The S&P 500 was the lowest since April 2021, with the Nasdaq down 4% amid rate concerns.

  • Nasdaq lead decline
  • Twitter crashed as short-seller Hindenburg threatened the Musk deal
  • Indices Off: Dow 1.6%, S&P 500 2.8%, Nasdaq 4%

NEW YORK, May 9 (Reuters) – U.S. stocks fell sharply on Monday, hitting the lowest level since April 2021, when the 10-year yield hit a new 3-1 on the back of a slump in mega cap growth stocks. / 2 year high and investors are more concerned about the interest rate outlook.

Nasdaq fell more than 3%, while Apple (AAPL.O) Shares of the Nasdaq and S&P 500 fell more than 3%.

Benchmark 10-year U.S. Treasury dividends reached their highest level since November 2018 at the beginning of the session.

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Investors are worried about how aggressive the Federal Reserve will be to control inflation. The US Federal Reserve recently raised interest rates by 50 basis points.

Christina Hooper, Invesco’s chief global market strategist in New York, said: “Markets are beginning to digest the return to a normal monetary policy environment.

“Moving even more aggressively raises fears of a recession, especially in the face of all these problems – high inflation, Russia’s invasion of Ukraine, supply chain disruptions related to Govt,” he said.

Investors in China are worried about the recession following the recent rise in Govt cases.

Dow Jones Industrial Average (.DJI) The S&P 500 was down 525.94 points, or 1.6%, at 32,373.43. (.SPX) 116.11 points or 2.82% lost 4,007.23 and the Nasdaq joint (.IXIC) 486.13 points, or 4%, to 11,658.53.

The S&P 500 reached its lowest level since April 2021, while the Nasdaq reached its lowest level since November 2020.

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Growth stocks are the hardest on recent sales because their returns and ratings are drastically reduced as yields increase.

Department of Energy (.SPNY) The sector also fell as oil prices fell.

Twitter Inc (TWTR.N) Hindenburg Research plunged more than 3% as it took a narrow stance on social media company shares, risking a deal to sell the company for $ 44 billion to Elon Musk at a lower price. read more

Problems declining at a rate of 7.12 to -1 in the NYSE rather than advancing; At Nasdaq, the 5.70-to-1 ratio favored a decline.

S&P 500 1 new 52 week high and 67 new low; The Nasdaq Composite set 13 new highs and 1,146 new lows.

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Additional Report by Devik Jain and Amruta Contekar in Bangalore; Editing by Shonak Dasgupta, Anil de Silva and Aurora Ellis

Our standards: Thomson Reuters Trust Principles.

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