News Formal

Nasdaq, S&P 500 drop 3% as growth stocks rally wanes

  • 📰 Reuters
  • ⏱ Reading Time:
  • 6 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 6%
  • Publisher: 97%

Business News News

Business Business Latest News,Business Business Headlines

The 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.

"A portion of the market is definitely focusing on a potential growth slowdown," said Zachary Hill, head of portfolio management at Horizon Investments.

The S&P 500 is down 16.8% so far in 2022 and the Nasdaq has fallen more than 26%, hit by growth stocks.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in BUSİNESS

Business Business Latest News, Business Business Headlines

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

Stocks end mostly lower, extending losing streak for S&P 500Stocks closed a wobbly day of trading mostly lower on Wall Street on Monday, extending a losing streak for markets.
Source: latimes - 🏆 11. / 82 Read more »