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US stocks closed Thursday sharply lower as investor sentiment cratered in the face of concerns that the Federal Reserve's interest rate hike would not be ...

More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. However, it was not just high-growth stocks, which have struggled in 2022 as the prospect of rate rises had investors questioning their future earnings potential. The index was dragged by Etsy Inc and eBay Inc, after both forecast Q2 revenue would be below Wall Street's estimates.

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The Dow Jones Industrial Average DJIA, -3.12% skidded 1,063.09 points, or 3.1%, ending at 32,997.97, its worst daily percentage drop since Oct. 28, 2020, ...

When in reality, the Fed is going to do what it has to do to get inflation down,” said Michael Reynolds, vice president of investment strategy at Glenmede, by phone. U.S. productivity fell at a 7.5% annual rate in the first quarter, the biggest drop since 1947. Unit-labor costs jumped at an 11.6% annual pace in the first quarter. “It’s conceivable the S&P 500 needs to establish a bottom in this 3,850 to 4,000 range,” said John Lynch, chief investment officer for Comerica Wealth Management, in emailed comments. U.S. Treasury yields jumped Thursday, with the rate on the 10-year note TMUBMUSD10Y, 3.068%rise to 3.066%, its highest since Nov. 2018. Engelke attributed the sharp selloff to fears that Powell might have been too dovish on the short-term pace of rate hikes over the next few months. -14.91%reported a loss in the first quarterand announced the acquisition of Deliver Inc. in a deal valued at $2.1 billion. “We are still not out of the woods yet, as there is still too much uncertainty over how the Federal Reserve’s actions will tame inflation without causing a recession,” said Zach Stein, chief investment officer at the Carbon Collective, an investment advisor based in Berkeley, Calif., in emailed comments. “The fear is the Fed is falling behind on inflation pressures, and will be more draconian in the future.” Signs of panic selling on Wall Street set in Thursday, a day after a rally was sparked when Fed Chairman Jerome said the central bank wasn’t likely to hike its benchmark interest rate by 75 basis points at its next meeting. - The S&P 500SPX,dropped 153.30 points, or 3.6%, to finish at 4,146.87. - The Dow Jones Industrial AverageDJIA,skidded 1,063.09 points, or 3.1%, ending at 32,997.97, its worst daily percentage drop since Oct. 28, 2020, according to Dow Jones Market Data.

The Dow Jones Industrial Average lost 1,120 points, or 3.3 percent. The S&P 500 and Nasdaq Composite fell 3.7 percent and 5.2 percent, respectively. The moves ...

Shopify fell more than 17 percent after missing estimates on the top and bottom lines. I don’t think that is going to be tightening so much so that we’re going slow down the economy. The Treasury market also saw a dramatic reversal of Wednesday’s rally. ... But having the kind of day we had yesterday and then seeing it 100 percent reversed within half a day is just truly extraordinary,” said Randy Frederick, managing director of trading and derivatives at the Schwab Center for Financial Research. “Higher equity valuations are incompatible with that desire, so unless supply chains heal rapidly or workers flood back into the labor force, any equity rallies are likely on borrowed time as Fed messaging becomes more hawkish once again.” So we are going to be tightening a bit. The 10-year Treasury yield, which moves opposite of price, surged back above 3 percent on Thursday and hit its highest level since 2018. The Nasdaq Composite jumped 3.19 percent. The Dow Jones Industrial Average lost 1,120 points, or 3.3 percent. Salesforce tumbled 6.3 percent. Microsoft dropped 4.7 percent. The moves come after a major rally for stocks on Wednesday. The Dow surged 932 points, or 2.81 percent, and the S&P 500 gained 2.99 percent for their biggest gains since 2020.

However, it was not just high-growth stocks, which have struggled in 2022 as the prospect of rate rises had investors questioning their future earnings ...

The index was dragged by Etsy Inc and eBay Inc, down 16.8% and 11.7% respectively, after both forecast Q2 revenue would be below Wall Street's estimates. However, it was not just high-growth stocks, which have struggled in 2022 as the prospect of rate rises had investors questioning their future earnings potential. The index was dragged by Etsy Inc and eBay Inc, down 16.8% and 11.7% respectively, after both forecast Q2 revenue would be below Wall Street's estimates. However, it was not just high-growth stocks, which have struggled in 2022 as the prospect of rate rises had investors questioning their future earnings potential. The S&P 500 posted two new 52-week highs and 43 new lows; the Nasdaq Composite recorded 20 new highs and 446 new lows. All of the 11 major S&P sectors declined, with consumer discretionary leading the way with a 5.8% drop. The U.S. central bank on Wednesday raised interest rates by half a percentage point as expected and Fed Chair Jerome Powell explicitly ruled out a hike of 75 basis points in a coming meeting. The selloff hit all areas of the market, as traders headed for the exits. The S&P 500 posted two new 52-week highs and 43 new lows; the Nasdaq Composite recorded 20 new highs and 446 new lows. All of the 11 major S&P sectors declined, with consumer discretionary leading the way with a 5.8% drop. The U.S. central bank on Wednesday raised interest rates by half a percentage point as expected and Fed Chair Jerome Powell explicitly ruled out a hike of 75 basis points in a coming meeting. The selloff hit all areas of the market, as traders headed for the exits.

Wall Street closed sharply lower on Thursday in an abrupt reversal from the rally in the previous trading session, with the Nasdaq registering its biggest ...

The declines were not accompanied by a surge of trading activity, however, and volumes on the Nasdaq were roughly in line with the 100-day moving average, Bloomberg data showed. Stocks subsequently rose on Wednesday, with the S&P recording its best day since May 2020. “Do I think we’ve seen a bottom? “With the 10-year [Treasury] move, the move in oil and currencies, we would have sold off, but I don’t think it would have been as quickly as this morning,” he added. There’s also no reason to buy bonds at this level because it doesn’t look like inflation is going anywhere.” Wall Street closed sharply lower on Thursday in an abrupt reversal from the rally in the previous trading session, with the Nasdaq registering its biggest one-day decline since June 2020 and one of the largest U-turns since markets were pummelled in the early months of the pandemic.

Stocks plummeted Thursday as Wall Street reversed from a torrid post-rate hike rally into its worst day of losses this year. The Dow Jones Industrial ...

We invite you to join the discussion on Facebook and Twitter. Powell added that with record demand for labor, 1.7 million jobs added in 2022 so far and steady consumer spending, the U.S. economy was well equipped to handle the headwinds. “For what it’s worth, we believe the risk of recession is elevated and should not be dismissed. “When the Fed raises rates quickly it is dangerous to the stock market and today we are seeing an example of that,” he continued. Even so, there are growing concerns among policymakers and economists about whether the Fed will be able to do so amid several threats to the U.S. economy. Fed rate hike cycles often take a toll on the stock market as companies brace for higher borrowing costs and slower consumer spending.

Renewed skepticism about Federal Reserve policy and a string of foreboding earnings reports from online retailers put the major U.S. equity indices into ...

Wall Street stocks sank Thursday morning, reversing the prior session's gains as markets reassessed the Federal Reserve's moves to tighten monetary policy ...

"When the Fed is aiming to slow demand with rising interest rates, in an effort to squash inflation, it stands to reason that earnings growth is going to slow as well," he wrote in analysis. Major indices finished that day's trading up around three percent in a relief rally after Fed Chair Jerome Powell expressed confidence the US central bank could engineer a "soft landing" that tames inflation without sending the economy into a recession. The central bank's policy meeting had concluded Wednesday with a half-point rate increase as expected, but no sign that the Fed was willing to make a three-quarter point increase in the future, a reassuring sign to markets nervous about high borrowing costs.

The S&P 500, Nasdaq 100 and Dow all suffered steep losses on Thursday, erasing all the previous session's gains; rising U.S. Treasury yields and fears of ...

No representation or warranty is given as to the accuracy or completeness of this information. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. No representation or warranty is given as to the accuracy or completeness of this information. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. With the bears firmly entrenched in the driver’s seat, a retest of the 2022 lows looks increasingly likely. On the flip side, if the S&P 500 defies expectations and begins to rebound, initial resistance appears at 4,160 and 4,225/4,230 thereafter. With Fed jitters on the rise again, fears of a hard landing for the US economy, softening corporate earnings and increasingly unpredictable levels of volatility, risk appetite will struggle to rebound in any meaningful way. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. According to consensus forecasts, the economy added 391,000 jobs last month, a moderate decline from the 431,000-increase in March. However, the headline print is likely to disappoint expectations, as several ISM surveys released earlier this week point to a sharp slowdown in hiring. From the stock market’s point of view, strong job gains coupled with moderating wage growth would be the sweet spot that could help calm some nerves. During the session, U.S. Treasury yields moved sharply higher, with the short end of the curve retracing some of yesterday’s pullback and the long end setting fresh near-term highs.