U.S. stocks slump as investors fear bigger Federal Reserve rate hikes

📆 06/05/2022 03:57:00
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Stocks are tanking with the Dow down more than 1,000 points — via financialpost

“Investors aren’t looking at fundamentals right now, and this is more of a sentiment issue,” said Megan Horneman, chief investment officer at Verdence Capital Advisors.

According to preliminary data, the S&P 500 lost 148.70 points, or 3.51 per cent, to end at 4,149.31 points, while the Nasdaq Composite lost 635.21 points, or 4.90 per cent, to 12,329.65. The Dow Jones Industrial Average fell 1,033.07 points, or 3.03 per cent, to 33,027.99.

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