Major Indices down led by Dow breaking its 3-days winning streak, market wraps up
Yesterday, several well-known stocks got swiped off their feet as Bill Hwang, previous head of Tiger Management’s office, was forced to sell $20 billion worth of stocks leading the fire sale and as investors predicted, it isn’t over that day. On the other hand, some stocks that were affected yesterday made wise moves and recovered some losses on today’s session, such as Discovery and Viacom.
Let’s take a peek at the market’s overview:
• The Dow Jones Industrial Average tripped down by 104.41 points or 0.31% and is now at 33,067
• NASDAQ Composite Index slipped by 14.25 points or 0.11% closing at 13,045
• S&P 500 Index slumped by 12.54 points or 0.32% ending at 3,959
• Crude Oil went down by $1.21 to $60.35 per barrel
• Gold lost $30.80 and is now at $1,683.80 an ounce
• 10-year Treasury yields went up by 0.5 to 1.7260%
The Dow Jones Industrial Average ended their 3-day win streak and is falling back from a record high yesterday. The Dow lost more than 100 points in one go at today’s session close but the Dow futures remains in the green gaining 0.03% at 32,936. The market is expected to be quiet for a while before the announcement on March job report is released on Friday.
NASDAQ Composite Index continues to dwindle while they face their 50-day running hurdle. It is also being majorly affected by the continuous rise of 10-year Treasury yields which is just a tad away from its record high in the last 13 months. NASDAQ futures is also slipping up by 0.02% at 12,875.25.
S&P 500 index ended in the red today losing almost 13 basis points. Only 3 out of its 11 sectors gained in today’s market leading the lost. The S&P futures also tripped down by 0.01% at 3,947.25.
For international market, Japan’s Nikkei 225 stumbled down by more than 250 points or 0.86%. China’s Shanghai lost almost 18 points or 0.51% while UK’s FTSE 100 gained 36 points or 0.53%.
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