Nasdaq leads US stocks down amid valuation worries | Malay Mail

  • 📰 malaymail
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 86%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

NEW YORK, May 4 — Wall Street stocks tumbled early today, with tech shares especially weak, amid worries over excess equity valuations as the US trade deficit hit a new all-time high. After a string of records in 2021, stocks are running into worries over “peak growth,” said Briefing.com...

Subscribe to ourNEW YORK, May 4 — Wall Street stocks tumbled early today, with tech shares especially weak, amid worries over excess equity valuations as the US trade deficit hit a new all-time high.

After a string of records in 2021, stocks are running into worries over “peak growth,” said Briefing.com analyst Patrick O’Hare, with investors anticipating an ebbing in the post-pandemic economic boom. Still, O’Hare pointed to an expected “seesaw” action in markets, as investors will likely bargain hunt when there are pullbacks.The broad-based S&P 500 fell 1.1 per cent to 4,147.86, while the tech-rich Nasdaq Composite Index sank 2.0 per cent to 13,617.24.

The US trade deficit rose 5.6 per cent to US$74.4 billion, seasonally adjusted, the highest ever recorded and mostly attributable to trade with China, the Commerce Department reported. Oren Klachkin of Oxford Economic attributed the widening trade gap to “faster US growth relative to the rest of the world.” — AFP

 

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:

 /  🏆 1. in İE

Ireland Ireland Latest News, Ireland Ireland Headlines