News Formal

Stock market’s bounce from summer selloff sends reassuring signs

  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 35 sec. here
  • 10 min. at publisher
  • 📊 Quality Score:
  • News: 45%
  • Publisher: 50%

Business News

Currencies,Markets,North America

With U.S. equities on the rebound, this summer’s selloff is looking more like a pause in the bull market than the beginning of its end.

Sagarika Jaisinghani and Michael MsikaPedestrians cross an intersection in the Shibuya district of Tokyo, Japan, on Saturday, Aug. 10, 2024. --

During its depths, only about five per cent of S&P 500 members fell to a one-year low, according to data compiled by Bloomberg. That means the drop had a far more limited scope than previous ones set off by major macroeconomic shifts. After the inflation surge drove the Fed to hike rates aggressively in 2022, nearly half the index tumbled to a 12-month low. The pandemic sent about two-thirds to that level.

This time around, it came nowhere near that threshold even at its lowest point. While that also indicates how much further the index could slump in a renewed selloff, it shows that investors were confident enough to swoop in well before the market tested a new bottom.

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:

 /  🏆 83. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

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.

Stock market news today: Dow leads stock comeback from steep sell-offEarnings misses have put the spotlight on the health of the economy after a Big Tech-led sell-off.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market news today: US stock futures rise as markets look to continue reboundStock futures were pointing to gains on Wednesday as investors looked to build on Tuesday's trading session that snapped a 3-day losing streak.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Stock futures steady in wait for fresh jobs, unemployment dataWall Street saw a comeback attempt falter on Wednesday, as stocks faded into the close and ended up with sizable declines
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Stock futures jump higher after positive signal on jobs, unemploymentWall Street saw a comeback attempt falter on Wednesday, as stocks faded into the close and ended up with sizable declines
Source: YahooFinanceCA - 🏆 47. / 63 Read more »