During this day, the S&P 500 lost 1.9% to 4,398.22 units, while the Nasdaq Composite fell 2.7% to 13,765.55. The Dow Jones Industrial Average fell 1.3% to 34,275.82 units.
“It really has been a continuation of the technology grind,” said Paul Nolte, portfolio manager at Kingsview Investment Management. “It’s really a combination of a rotation away from technology, as well as very poor numbers from Netflix, which I think is the catalyst for today.”
Stocks are off to a rocky start in 2022 as The rapid rise in Treasury bond yields, amid concerns that the US Federal Reserve will become aggressive in reining in inflation, has hit technology and growth stocks particularly hard.
Investors are closely watching next week’s Fed meeting for more clarity on the US central bank’s plans to tighten monetary policy in coming months, after data last week showed consumption in the United States had in December the biggest annual increase in almost four decades.
Apple, Tesla and Microsoft are some of the big companies that must present their reports in a week that is very full of results.
Source From: Ambito
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