One of the biggest decreases of this day is recorded by Walmart (-9.5%) as the retail giant announced last week that it cut its full-year profit forecast, taking a hit to its margins. they follow him, Coca Cola (-8.9%), Apple (-8.1%), Tesla (-7.1%), and Amazon (-6.4%).
According to the operators “supply chain issues continued to fuel inflation and growth concerns”.
“Traders are looking for a catalyst to turn the market around as it approaches its short-term low,” said Rick Meckler, president of hedge fund LibertyView Capital Management LLC, adding: “There’s probably still enough fear among investors to see a few more downdrafts”.
Goldman Sachs now estimates a 35% chance of a US recession in the next two yearswhile Morgan Stanley estimates a 25% chance in the next 12 months.
On Wall Street, shares were trading mixed. The Dow Jones Industrial Average fell 0.7%, the S&P 500 Index lost 0.2% and the Nasdaq Composite Index added 0.5%.
Source: Ambito
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