Stocks retreated sharply Monday in the worst opening in weeks on jitters prompted by a potential crisis in the Chinese real estate sector, fear over Fed policy changes and negotiations over the U.S. debt ceiling in Washington, D.C.
There’s also been some recent data raising fears of slower growth in the U.S. and global economy. Stocks fell across the board and the fears created pressure on riskier assets, withparticularly hard hit — off 5% at the open — and exhibition stocks following. The share price of the nation’s largest theater chain has been inflated by Reddit-fueled buying that’s taken the price well beyond what Wall Street thinks the stock is worth.
Also, the Federal Reserve is holding its open policy meeting this week and investors are attuned to signs that rising inflation may push it to tighten the expansive monetary policy U.S. markets have become accustomed to during Covid. And the U.S. House of Representative will vote this week on the debt ceiling and a stopgap spending measure to keep the government operating past the end of its September fiscal year.
The Dow Jones Industrial Average was down nearly 400 points, off its lows earnings this morning. The S&P 500 was down more than 1.7% The market has been wobbly of late with stocks posting the biggest two-week decline since February over the past few weeks.
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.
Morgan Stanley says it's looking more likely stocks fall 20% in 'destructive outcome' for bull runWeakening economic data could pull the stock market toward the more negative of Morgan Stanley's 'fire' or 'ice' outlook, according to strategist Mike Wilson. Pro Can I buy a digital house and take a digital shit in my digital toilet and wipe my ass with digital paper I asking for my digital friend Pro Get ur digital asses out of crypto Or u will have ur digital ass handed to you Pro 20% only?!!!
Source: CNBC - 🏆 12. / 72 Read more »
Asian stocks tense for Fed tapering newsAsian shares eased and the dollar held firm on Monday ahead of a week graced with no less than a dozen central bank meetings, highlighted by the Federal Reserve which is likely to take another step toward tapering.
Source: Reuters - 🏆 2. / 97 Read more »
Stocks fall in Hong Kong; most other Asian markets closedShares fell more than 3% in Hong Kong on Monday in holiday-thinned trading in Asia, with other big markets in Tokyo and Shanghai closed. Blood bath thanks to evergrande - more to come nice Brace yourself for impact...
Source: MarketWatch - 🏆 3. / 97 Read more »
Morningstar slashes its price targets for Macao casino stocks, flags areas of concernHong Kong-listed stocks of Macao casino operators have been slammed on Wednesday as concerns rise over greater regulatory scrutiny on the sector. Pro dont like fat Pro good
Source: CNBC - 🏆 12. / 72 Read more »
Australian stocks set for lower start; major Asia markets closed for holidaysMarkets in mainland China, Japan and South Korea are closed on Monday for a holiday.
Source: CNBC - 🏆 12. / 72 Read more »
Goldman Sachs picks 6 Chinese chip stocks — some with over 50% upsideNew for subscribers: Goldman Sachs picks 6 Chinese chip stocks — some with over 50% upside. Check out CNBCPro today. Pro Don’t mess with Mr mother fucking in mother fucking between. Pro The China News brocasting company really must be headed for a crash. Pro nope..dont trust them
Source: CNBC - 🏆 12. / 72 Read more »