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Major Indices wraps continuing losing streak; the Dow underperformed

Written by Customer Service on . Posted in Public Companies.

Investors are steering clear from growth stocks as these are the first to be impacted the moment inflation hits the economy, which is expected by the experts during the recovery of the economic from the pandemic.

The traders are rotating away from high growth stocks and are focusing on value stocks. With most of the companies’ 1st quarter earning report out, it is interpreted that the strong quarterly earnings season is almost finished, the new focal point of the market movement is now focused with the suspected inflation.

This week, traders are expecting to get a peek at the latest monthly consumer price index along with the producer price index, which they expect to see a major jump in price change compared to pandemic price records.

The Dow Jones Industrial Average continued to experience losses intraday, and sped up the fall at the later part, losing almost 500 points or 1.4% at market close. NASDAQ Composite Index, on the other hand, is little changed as it stayed just below the flat line with minimal losses compared from the previous days. S&P Index lost almost 1% in today’s session as the whole market is drifting to the lower side.

Tuesday session’s key moves are here:
• The Dow Jones Industrial Average crashed at 34,270.35 after dropping by 472.47 points or 1.36%.
• The S&P 500 Index lost 36.34 points or 0.87% and wrapped at 4,152.09.
• NASDAQ Composite Index slightly below flat line at 13,389.43 after losing 0.09% or 12.43 points.
• U.S. 10 Year Treasury yield is up by 2.2 basis points and at 1.6240%.
• Crude is at $65.36 per barrel after gaining 0.68% or $0.44.
• Gold is currently at $1,838.30 an ounce after gaining 0.04% or $0.70.

NASDAQ Composite is still hurting from the drop in value of tech stocks, evident in yesterday’s and today’s performance. The Dow Jones Industrial Average performed its worse session day since February of this year with more than 1% lost in a single day. S&P 500 stepped down but ended slightly better compared to the intraday performance dropping by more than 1% at session lows.

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