Banks and energy companies led a broad slide for stocks on Wall Street on Tuesday, handing the Standard & Poor’s 500 index its sixth loss in the last seven trading days.
“There are still inflationary pressures even if they [consumer prices] came in lower than expected,” said Kristina Hooper, chief global market strategist at Invesco. “It doesn’t mean that it’s over.”The S&P 500 fell 25.68 points to 4,443.05. The Dow Jones industrial average dropped 292.06 points, or 0.8%, to 34,577.57. The Nasdaq composite fell 67.82 points, or 0.5%, to 15,037.76.
Inflation has been a key concern for investors, who are trying to gauge how it will affect both the economy’s recovery and the Federal Reserve’s policy on maintaining low interest rates. The central bank has said higher costs for raw materials and consumer goods will probably remain temporary as the economy recovers, but analysts are concerned that the higher prices could stick around and hurt companies’ bottom lines while also crimping spending.
The Biden effect is kicking in now.
Broke and no stock so I couldn’t care less.
wow
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:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Regulation & “Unnamed Sources” Weigh On Internet StocksAsian equities followed the US’ Friday underperformance overnight. For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to her earn_with_Jens Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success Hi Forbes how’s it going Candela coin has huge growth space and will increase in value by 500-10000 times in the future! Telegram: Video interview with me done by moonshot monday. This was recorded from my hotel room while traveling in Mexico 1 month ago.
Source: Forbes - 🏆 394. / 53 Read more »
There’s a growing wall of worry developing for stocks to climb, says Deutsche BankA survey of more than 500 market professionals see a 5% to 10% pullback by year's end. AYA fintech network platform provides proprietary alpha stock signals and social finance tools for U.S. stocks such as Facebook, Apple, Microsoft, Google, Amazon, Nvidia, and Tesla (FAMGANT).
Source: MarketWatch - 🏆 3. / 97 Read more »
Meme Stocks AMC and GameStop Push Small-Cap Benchmark HigherThe Russell 2000 value index is among those that have advanced with help from the run-up in meme stocks this year.
Source: WSJ - 🏆 98. / 63 Read more »
Investors are expecting a pullback for stocks before year-end, Deutsche survey showsDeutsche Bank survey showed that 58% of respondents are expecting a correction between 5% and 10% before the new year. I call B.S.
Source: CNBC - 🏆 12. / 72 Read more »
Stocks struggle for momentum on inflation and taxation fearsWorld stocks started the week on the backfoot on Monday, slipping to 2-1/2 week lows on further signs of accelerating inflation as well as tax and regulatory pressures on the world's biggest companies. Crypto is the answer
Source: Reuters - 🏆 2. / 97 Read more »
Regulation, ‘Unnamed Sources’ Weigh On Internet StocksAsian equities followed the US’ Friday underperformance overnight.
Source: Forbes - 🏆 394. / 53 Read more »