The Dow Jones Industrial Average fell 1%, over 300 points, while the S&P 500 lost 0.8% and the tech-heavy Nasdaq Composite 0.2%.
on Wednesday as disappointing quarterly results from major retailers sparked fears about inflation causing an economic slowdown. Shares of Kohl’s fell up to 5% before paring back losses after it became the latest retailer to post disappointing quarterly results, similarly citing inflationary pressures and adding to reinvigorated fears that American consumers are feeling the impact of surging prices.
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Nasdaq, S&P 500 drop 3% as growth stocks rally wanesThe Nasdaq and the S&P 500 dropped 3% on Wednesday as a rally in growth shares faded amid economic growth concerns, while Target plunged to the bottom of the S&P 500 after the retailer became the latest victim of surging prices.
Source: Reuters - 🏆 2. / 97 Read more »
Deutsche Bank cuts baseline market forecast and sees S&P 500 at 3,000 if there's a recessionStocks could be in for much more pain ahead if a recession is imminent, according to Deutsche Bank's Binky Chadha.
Source: CNBC - 🏆 12. / 72 Read more »
Stocks tumble on recession fears, with the S&P 500 nearing a bear marketHigh inflation, rising interest rates and disappointing corporate earnings are souring Wall Street's outlook. This is what you get for keeping Quantitative Easing for way too long. Interest rates should have been boosted *long* ago. If we had kept QE any longer, we would've met the same fate that Japan and Turkey are now facing--a currency crash. 💴🔥 So we just sent $40 billion to Ukraine.. Hmm BIDEN 2024 !
Source: CBSLA - 🏆 552. / 51 Read more »
Selloff puts S&P 500 on bear market’s doorstep. If history is a guide, there’s more pain ahead.The S&P 500 is a whisker away from the threshold that marks a bear market. In the past, entering bear territory has tended to be followed by more selling. The analysts know is a bear market they are playing now until they can't play no more
Source: MarketWatch - 🏆 3. / 97 Read more »