Dow retreats, dollar rises as stocks fall!
U.S. stocks fell Monday!
While investors remains worried about a rise in C-19 infections overseas and the state of the economy at home heading into the key holiday season, while dollar rises simultaneously
Tweet on the latest from the market
The major U.S. stocks averages were lower in midday trading Monday.
S&P 500: -0.7%
Dow industrials: -0.5%
Nasdaq Composite: -1.1%
Energy stocks led the S&P 500 to the downside, with the sector 4.5% lower.
The benchmark 10-year U.S. Treasury yield was down slightly at 3.804% pic.twitter.com/McjeQgd32Q— The_Journalbiz (@the_journalbiz) November 21, 2022
Factset chart on the recent market fluctuations
The S&P 500 dropped 0.4% in midday trading. The Nasdaq Composite lost 1.1%, and the Dow Jones Industrial Average slipped 0.1%.
Investors had hoped that signs of easing Covid-19 containment measures in China would allow for economic growth to pick up, also benefiting the global economy. Several Chinese cities had said they would no longer carry out mandatory mass testing and lifted the requirement for residents to show proof of a recent negative test to enter public places.
A rise in Covid-19 infections and the reporting of virus-related deaths for the first time in almost six months have caused investors to worry that China’s normalization could instead be further delayed.
The major U.S. stocks averages were lower in midday trading Monday.
S&P 500: -0.7%
Dow industrials: -0.5%
Nasdaq Composite: -1.1%
Energy stocks led the S&P 500 to the downside, with the sector 4.5% lower.
The benchmark 10-year U.S. Treasury yield was down slightly at 3.804% on Monday from 3.817% on Friday.
U.S. stocks have been battered this year. Investors are staying the course.
Mutual and exchange-traded funds holding U.S. equities are on track for their second-most inflows since 2013, taking in $86 billion according to Morningstar Direct data through October.
While below 2021’s $156 billion total, it shows a willingness to buy the market dip when aggressive monetary policy and a worrying economic outlook have led to a selloff. The S&P 500 is down 17% while the tech-heavy Nasdaq Composite has shed 29%.
The American stock market is currently more richly valued than it has been more than 90% of the time since 1881, according to Research Affiliates’ analysis.
