US stock markets are still testing positive territory, but ended up reversing into the red, in a choppy session, with many ups and downs.
The Dow Jones Industrial Average closed down 0.89% to 34715.39 points. On January 5th, he remembered that he touched a level he hadn’t reached before at 36,952.65 points.
The Standard & Poor’s 500 Index fell 1.10% to 4,482.73 points. The all-time high in daily trading was reached on January 4th at 4,818.62 points.
On the other hand, the Nasdaq Technology Composite Index fell 1.30% to settle at 14,154.02 points. Yesterday, this indicator entered correction territory, after losing 10% of its previous closing level recorded on November 19. Its all-time high intraday at 16212.23 points, which was established on November 22nd.
Indices on the other side of the Atlantic once again fluctuated between gains and losses, after trading in positive territory as rising sovereign debt rates stabilized.
However, the sun was short-lived and at the end of the session the sell-off observed in recent days was more evident again, particularly in the tech sector – which has benefited heavily in the past two years, due to lower interest rates, and is now fearful of the impact of a Fed rate hike. Interest which may start in March.
This decline in technology isn’t a promising sign at the gates of the accounts report for the fourth quarter of 2021, Bloomberg confirms. Today it’s Netflix’s turn, once Wall Street has finished its regular slot.
This has been a very volatile month for US stocks. However, CNN reports that Joe Biden’s first year in office has a positive balance in stock markets.
A year ago today, Biden took office and the S&P 500 has risen about 18% in that period, hitting all-time highs along the way. The Dow Jones is accumulating more than 12% while the Nasdaq has been less “exciting” – only 6% gain.
But this start of the year isn’t just bad for the Nasdaq. So far, the S&P 500 and Dow are down more than 4% since the first session of 2021.
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