The U.S. stock market is giving back more of its record-setting rally on Tuesday as bond markets rattled by high inflation keep cranking up the pressure.
The S&P 500 fell 0.5% and was on track for a third straight loss after setting its latest all-time high. The Dow Jones Industrial Average was down 165 points, or 0.3%, as of 12:29 p.m. Eastern time, and the Nasdaq composite was 0.9% lower.
That followed mixed moves for stock markets abroad, while oil prices eased in their latest yo-yo move. Falling technology stocks in Asia dragged South Korea’s Kospi down 3.3%, but Germany’s DAX returned 0.4%.
Tech stocks are faltering following huge runs made because of excitement around artificial-intelligence technology, runs that critics said made them too expensive. The stumble comes as oil prices swing on uncertainty about how long the Iran war will keep the Strait of Hormuz closed for oil tankers. That in turn has pushed yields higher in bond markets, which is dragging on economies and all kinds of other financial markets.
The wait is on, meanwhile, for Nvidia to report its latest quarterly results. The chip company is due to report on Wednesday, and it’s routinely blown past analysts’ expectations each quarter. Not only that, it’s provided forecasts for future growth that have consistently topped Wall Street’s.
How it does could determine whether technology stocks and the larger U.S. stock market can maintain their rally. Nvidia slipped 0.2% Tuesday, but was one of the heaviest weights on the S&P 500 because of its immense size.
It’s difficult calling them markets anymore.
POTUS is the most corrupt and compromised man on earth.
His administration is likewise.
The Senate are enablers.
The Supreme Court don’t practice law.
Congress are performative.
The SEC is non-existent.
The FED is not independent.
US trade is crippled by their own doing and the entire world is de-americanizing at a wartime pace - technology, trade, military.
This article is sane-washing an incredibly bad situation. When the tides go out, we’ll all see who was swimming naked.
Who tf writes an article about 0.5%
The people use “plummet” to describe a 1% drop.
Most people are financially illiterate, so this kind of article works well when there’s nothing else worth reporting on (as if that’s the case now). When the markets are up we can shame wealthy investors for “profiting on a crisis,” and when they’re down we can bask in the schadenfreude of them “losing millions” - even though in both cases we’re talking about unrealized gains and the whole article is irrelevant a month later.
