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Wall Street has had its worst week since the start of the coronavirus pandemic Financial Market News

Shares of the technology have been the worst-selling this week, with a very volatile start to 2022.

Who Bloomberg

Shares fell, limiting the worst week since the pandemic erupted, as technology stocks suffered a sell-off amid weak corporate earnings and higher U.S. interest rates.

The S&P 500 closed below the 200-day moving average, a key technical level, for the first time since 2020. The Nasdaq 100 heavyweight technology slipped among the top benchmarks on Friday, falling more than 20% in streaming shares. Netflix Inc. The Bitcoin giant fell in a long cryptocurrency sale, dropping to its lowest level in more than five months below $ 38,000.

The volatility in the market this month showed little sign of easing on Friday, with the S&P 500 falling for the fourth day, extending its periodic losses to 5.7%, although it has been reduced for the worst week since March 2020. $ 3 trillion helped add to the market turmoil.

“I think this is the longest week in history, right?” Jay Pelosky, founder and president of TPW Investment Management, told Bloomberg TV. “It’s only been a four-day week and I think they’ve come together in just two weeks.”

So far, the U.S. company’s reporting season has been erratic, highlighting the risk of the stock market not being able to revive animal spirits. While disappointing forecasts from Netflix subscribers lowered its shares, Peloton Interactive Inc. suggested that it was ready to bounce back after a stay-at-home trade favorite hit a report on a temporary production hiatus.

The S&P 500 falls below the 100- to 200-day moving average per week

Markets are also preparing the Federal Reserve to raise rates. Economists surveyed by Bloomberg hope that policy makers will raise interest rates in March for the first time in more than three years and reduce their balance sheet in the near future. Geopolitical tensions are also escalating. A report that Washington has allowed US to send US-made weapons to some Baltic states has sparked concerns about its withdrawal from Russia.

“There are many risks to the global economy, including geopolitical events,” wrote Ethan Harris, head of global economics at Bank of America Global Research. “However, we believe that the biggest short-term risk lies ahead: that the Fed is behind the curve and that it needs to take inflation seriously.”

Paradise demand dropped its 10-year Treasury yield by more than 10 basis points in three days to 1.76%, leaving the rate lower for the week, the first fall in five weeks.

Stock market sales have volatility indices for prices that are more turbulent in the near future than in the near future. Configuration, known as reverse VIX. Such a reverse curve has occurred four times in the last year and they have all merged with the market background.

“When this session is finally over we will all breathe a sigh of relief and then we can end this week as it has been painful,” said Adam Phillips, Managing Director of Portfolio Strategy at EP Wealth Advisors. Torrancen, California.

Some of the major market movements:

Stocks

  • The S&P 500 fell 1.9% in New York City as of 4 p.m.
  • The Nasdaq 100 fell 2.7%
  • The Dow Jones Industrial Average fell 1.3%
  • The MSCI World Index fell 1.8%.

Coins

  • The Bloomberg Dollar Spot Index fell 0.1%
  • The euro rose 0.3% to $ 1.1345
  • The British pound fell 0.3% to $ 1.3557
  • The Japanese yen rose 0.4% to 113.68 per dollar

Links

  • 10-year Treasury yields fell five basis points to 1.76%.
  • German 10-year earnings fell four basis points to 0.06%.
  • Britain’s 10-year yield fell five basis points to 1.17%.

Goods

  • West Texas Intermediate gross fell 0.7% to $ 84.91 a barrel
  • Gold futures fell 0.7% to $ 1,832.70 an ounce




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