These stocks are already in a correction and could fall further

Investors trying to buy the recent market dip should be careful — there are a host of battered stocks that are showing signs of further downside rather than a bounce back. Rising geopolitical concerns and a streak of hot inflation data that's reversed the likelihood of easier Federal Reserve policy have started to dent investor sentiment. As a result, the market has begun the second quarter of 2024 on a pessimistic note after a roaring start to the year.

The Bank of Hawaii is one such unloved and struggling stock. Shares have lost nearly a quarter of their value from a 52-week high in December 2023. According to analysts surveyed by FactSet, the regional bank stands to lose another 5.9%. Although regional banks have suffered since the Fed started raising rates in 2022 and from the failure of Silicon Valley Bank in March 2023, Bank of Hawaii is a notable underperformer even among its peers. The stock has slumped 21.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nvidia stock dips after company unveils latest AI chipsNvidia shares dipped 3% on Tuesday morning after the company unveiled its new generation of artificial intelligence chips, called Blackwell.
Source: CNBC - 🏆 12. / 72 Read more »

Buy this 'stealth' home improvement stock as housing market improves, Loop Capital saysThe underperforming retail chain carries a buy rating from the investment firm.
Source: CNBC - 🏆 12. / 72 Read more »

Nvidia stock dips after company unveils latest AI chipsNvidia shares dipped 3% on Tuesday morning after the company unveiled its new generation of artificial intelligence chips, called Blackwell.
Source: nbcsandiego - 🏆 524. / 51 Read more »