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Stocks Plunge As Interest Rates Rise; Tech, Showbiz Shares Pummeled, Outlier Twitter Posts Gains

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Most stocks and sectors closed down Thursday in a massive and broad market selloff that thrashed media and tech shares from big showbiz conglomerates to Amazon, Apple and Meta to Roku, Endeavor, Cinemark and the New York Times

Most stocks and sectors closed down Thursday in a massive and broad market selloff that thrashed media and tech shares from big showbiz conglomerates to Amazon, Apple and Meta toWith the trading day done, the Dow 30 is down more than 3% having shed over 1,100 points . The Nasdaq was the hardest hit, off 5%, with the S&P 500 and Russell 2000 lower by, respectively, 3.6% and 4.87%. Stocks and bonds were both lower.

Today the market’s euphoria was replaced by fear. Fed chief Jerome Powell must be extremely deft to juggle interest rate hikes, which cool the economy off, with the risk of recession. Earnings season is also under way with mixed numbers coming from across sectors, including media.

 

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It’s just depressing watching the market 😩

We'll find out what record $800 billion margin debt does right about 4pm today... Margin calls! Ain't they a bitch? NASDAQ DowJones SPX MarginCall bidenflation Powell FederalReserve inflation Biden did that! It's offical BidenWorstPresidentEver

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