Friday, the Dow Jones Industrial Average fell more than 900 points. This was influenced by the decline in technology stocks, which left the S&P 500 with the largest drop since the start of the corona virus. Following that Amazon had a major shift in their stocks and in there market causing them to have a loss of around 200 billion dollars off their market value. This left the S&P 500 with an 8.8% loss in the month of April.
The Dow Jones Industrial Average and the S&P 500 are all included in the Nasdaq Composite, which is heavily weighed with the technology stocks. This means that the decline affected the Nasdaq Composite the most making it the worst loss in a month since October 2008, during the financial crisis. While the stock continues to plunge, we will continue the market sell-off in the economy.
https://www.usnews.com/news/business/articles/2022-04-29/asian-shares-jump-as-chinese-leaders-pledge-help-for-economy
https://www.forbes.com/sites/sergeiklebnikov/2022/04/29/nasdaq-posts-worst-month-since-2008-and-dow-plunges-900-points-market-sell-off-continues/?sh=43a8d4764f8c
Maybe it is time to buy. Many people complain about the stock market, that it is never low. In my opinion, it is the lowest point in the near future
ReplyDeleteI read an article about Apple Stock, and it seemed that they had a really great quarter and now they have authorized $81billion for stock repurchases, which would increase the price of the stock.
ReplyDeleteWhy were the tech stocks falling ?
ReplyDelete