Tag Archives: selloff

The Dow Jones Industrial Average’s (^DJI) worst daily plunge of the year sparked a split among market strategists on wether Friday was a good buying opportunity.  The index closed down more than 900 points, while the broader S&P 500 (^GSPC) average declined 2.27%. Energy, financials and industrial stocks led the markets lower amid concerns of a new COVID variant first detected in southern Africa.  “To the extent this is not as big as Delta was ultimately, then I think maybe it’s a little bit… Source link

Travel platform Expedia (EXPE) and home sharing site Airbnb (ABNB) are two of the stocks swept into the market sell-off on Friday over concerns of a COVID variant first detected in southern Africa. Expedia, the fifth-worst performer in the S&P 500, dropped as much as 11% during the shortened trading day on Friday. Shares closed 9% lower at $159.80 each. Airbnb’s stock closed the session down more than 3% at $173.86. Travel reservation platform Booking Holdings (BKNG) also declined more than 7%… Source link

(Bloomberg) — Snap Inc. posted its biggest one-day drop on record after the Snapchat parent company warned that Apple Inc.’s data collection rules and global supply-chain bottlenecks are weighing on advertising spending. Most Read from Bloomberg The stock tumbled 27%, wiping out about $32 billion of a market value that now sits around $89 billion. The cautious outlook cast a shadow over ad-dependent peers, including Google-owner Alphabet Inc., Facebook Inc., Twitter Inc. and Pinterest Inc.,… Source link

Stock futures opened flat to slightly higher Tuesday evening after a tech-led selloff during the regular trading day. Concerns over rising Treasury yields and sparring among Washington lawmakers over the debt ceiling and government funding weighed heavily on equities. Contracts on the Nasdaq ticked up. The index closed out Tuesday’s regular session lower by 2.8%, posting its biggest drop since March. The S&P 500 and Dow also fell sharply. The decline in technology stocks came as Treasury… Source link

The flash crash has not deterred institutional investors. Photo: AP Major cryptocurrencies were down on Wednesday morning as a flash crash in the price of bitcoin earlier this week wiped out over $200bn from the market. Bitcoin (BTC-USD) was down 1.7% to trade at $42,223 (£30,913) at the time of writing and is trading at levels not seen since August, while ethereum (ETH-USD) fell 8.3% and was trading at $2,920. “Over the last few days, bitcoin has been on a downward spiral after sentiment… Source link

Stock futures gained Tuesday morning after sliding a day earlier, as a bevy of concerns out of China and in Washington spurred a steep selloff across risk assets. Traders also turned their attention to the start of the Federal Reserve’s latest two-day monetary policy-setting meeting. Contracts on the S&P 500 advanced by about 0.8% after the blue-chip index logged its worst day since May by the end of Monday’s session. Dow futures added more than 300 points, or 0.9%, while Nasdaq futures… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Tuesday, September 21, 2021 Two words that hint of volatility, connected by a third An ugly start to September, and the even uglier start to this week’s trading session, can be defined using two alliterative words that often unsettle investors. Correction and contagion. The first word relates to stocks that, as bulls are wont to remind us, usually… Source link

(Bloomberg) — Cryptocurrency prices slumped as a broad selloff sparked by worries about contagion from China Evergrande Group swept through global markets. Most Read from Bloomberg Bitcoin was down 8.1% to trade around $43,743 as of 5:11 p.m. in New York. It had dropped as much as as 10.7% earlier, which pushed it below $43,000 and to its lowest level since the beginning of August. Ether briefly dropped below $3,000. Popular DeFi tokens some of the biggest declines: Cardano fell more than 10%… Source link

(Bloomberg) — Global stocks fell with U.S. futures as investors dumped Chinese shares amid a regulatory overhaul in the country. Treasuries climbed. The Hang Seng Index slid 4.2% as speculation swirled that U.S. funds are offloading China and Hong Kong assets. While the losses were more muted in Europe and U.S. futures, the mood was pessimistic across markets. Tesla Inc. and General Electric Co. rose in premarket trading after their earnings beat forecasts. The rout in China is spooking… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Tuesday, July 20, 2021 The stay-at-home trades comes back to life Stocks did not have a good start to the week.  On Monday all three major averages fell more than 1%, with the blue chip Dow Jones Industrial Average (^DJI) losing more than 2%. And while these declines mean the S&P 500 (^GSPC) is only 2.5% from its record, underneath the surface of… Source link