Western Digital (WDC) trading at lows not seen since November 2020.
Qorvo (QRVO) trading lows not seen since April 2020.NVIDIA (NVDA) trading at lows not seen since March 2021.Intel Corporation (INTC) trading at lows not seen since February 2016.Church & Dwight (CHD) trading at lows not seen since March 2021.Whirlpool (WHR) trading at lows not seen since July 2020.Mohawk Industries (MHK) trading at lows not seen since November 2020.Meta Platforms (META) trading at lows not seen since April 2020.Lumen Technologies (LUMN) trading at lows not seen since November 2020.Comcast (CMCSA) trading at lows not seen since April 2020.Charter Communications (CHTR) trading at lows not seen since March 2020.Lea la cobertura del mercado de hoy en español aquí.Ī number of stocks sank to their lowest level in at least a year on Tuesday, as the Dow tumbled the most since June 2020 following the hotter-than-expected inflation report. Shares of direct-to-consumer auto retailer Carvana slid 12.9%.
Cloudflare fell more than 10%, while Unity Software sank about 13.4%. The sell-off was especially painful in high-growth areas of the market. "It also pushes back any 'Fed pivot' that the markets were hopeful for in the near term." The hotter than expected report means we will get continued pressure from Fed policy via rate hikes," said Matt Peron, director of research at Janus Henderson Investors. "The CPI report was an unequivocal negative for equity markets. stocks, which were bolstered in part by the belief of many investors that inflation had already peaked. The moves comes after four straight positive sessions for U.S. The unexpectedly high August report could lead the Fed to continue its aggressive hikes longer than some investors anticipated. 20-21 meeting, where the central bank is expected to deliver its third consecutive 0.75 percentage point interest rate hike to tamp down inflation. The report is one of the last the Fed will see ahead of their Sept. On a year-over-year basis, inflation was 8.3%.Įconomists surveyed by Dow Jones had been expecting a decline of 0.1% for overall inflation, with a rise of 0.3% for core inflation. Core inflation rose 0.6% month over month. Headline inflation rose 0.1% month over month, even with falling gas prices. The August consumer price index report showed a higher-than-expected reading for inflation. It meant a lot of guys who were making preliminary favorable bets got caught off base," he said. It's not so much that the one number made the economy go topsy-turvy. "Certainly the 3900 is just so tempting, and you're pulling back below the 50-day moving average here. "I think we may even go back and retest the June lows," UBS director of floor operations Art Cashin said Tuesday on CNBC's "Squawk on the Street." 6 close of 3,908 and causing some traders to glance back at mid-June, when the index fell below 3,700. The drop erased nearly all of the recent rally for stocks, pulling the S&P 500 back toward its Sept. Just five stocks in the S&P 500 finished in positive territory. Tech stocks were hit particularly hard, with Facebook-parent Meta skidding 9.4% and chip giant Nvidia shedding 9.5%.
The Dow Jones Industrial Average slid 1,276.37 points, or 3.94%, to close at 31,104.97. Stocks fell sharply on Tuesday after a key August inflation report came in hotter than expected, hurting investor optimism for cooling prices and a less aggressive Federal Reserve.