Tag: fall

Stocks Fall For A Third Week In A Row As Tech Sell-Off Continues

Topline

The market finished lower in volatile trading on Friday, posting a third straight week of losses as investors continued to unload shares of large tech companies.

Key Facts

The Dow Jones Industrial Average was down 0.88%, nearly 250 points, on Friday, while the S&P 500 fell 1.12% and the tech-heavy Nasdaq Composite dropped 1.07%.

The major averages posted a third straight week of losses, their longest weekly losing streaks since last year.

Tech stocks again dragged the market lower: Shares of Apple, Amazon and Google-parent Alphabet all fell by 2% or more, while Facebook lost nearly 1%.

Shares of Oracle, which is trying to buy a minority stake in TikTok-parent ByteDance, declined 0.3% after the Trump administration said it would block all TikTok and WeChat downloads in the United States on Sunday.

Market sentiment also took a hit

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Stocks fall as tech slides, Fed projects years of low rates, Snowflake doubles in IPO

S&P 500, Nasdaq finish in the red

The major indexes could not shake off the struggles of large tech stocks and drifted lower in the final hour of trading. The S&P 500 and Nasdaq Composite lost 0.5% and 1.3%, respectively. The Dow, at one time up more than 350 points, notched just a 38 point gain. — Jesse Pound

Powell wraps up

Fed chair Jerome Powell concluded his press conference shortly after 3:30 p.m. With less than half an hour remaining in Wednesday’s session, the Dow was up 125 points, while the S&P 500 and Nasdaq Composite had fallen 0.1% and 0.9%, respectively. — Jesse Pound

Tech struggles drag down market

Continued struggles for major tech stocks weighed on the overall market and erased some of its recent gains. The Dow was up 100 points, while the S&P 500 and Nasdaq Composite turned negative. The Nasdaq lost 0.8%. Shares of

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Apple and Tesla have been trading off ‘a weird game theory’, says money manager Jeff Mills, who thinks tech stocks have further to fall

  • Money manager Jeff Mills thinks tech stocks like Apple and Tesla can drop further.
  • He told CNBC’s “Trading Nation” Tesla is trading “80% above its 200 day moving average despite a 21% daily drop last week. 
  • Both Apple and Tesla had their stocks split on 31 August. 
  • He said both stocks have been trading at a “weird game theory, where investors are looking at buying a stock because they think other investors are going to buy the stock.”
  • Tech stocks are trading 15% above their 200-day average, and Mills said he would before buying.
  • Visit Business Insider’s homepage for more stories.

Apple and Tesla stock prices are trading off a ‘weird game theory’ despite their recent stock splits, a top money manager said. 

Apple and Tesla’s both faced stock splits of 4-for-1 and 5-for-1 on 31 August. 

Speaking to CNBC’s “Trading Nation” Jeff Mills, chief investment officer at

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The 4 Biggest Tech And Gaming Drops Set To Rock The Fall

Despite the generally dire state of the world, the holiday season is still right around the corner, and as such, companies are prepping an avalanche of new tech and gaming launches. The fall season is set to be particularly packed in 2020, thanks to the impending debut of a new video game console generation.

Here’s a look at some of the biggest launches and debuts coming in the next few months.

PlayStation 5 console Sony released this picture on June 11 of its upcoming PlayStation 5 console, without revealing pricing or a launch date. Photo: Sony Interactive Entertainment Inc.

Sony’s follow-up to the toweringly successful PlayStation 4 is still somewhat shrouded in mystery, with no price tag confirmed and no release date more specific than “November.” Still, eager gamers have been given plenty to go on in terms of next-gen specs, with the PS5 sporting optimized SSD storage for non-existent load times, the

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5 Stock Market Warning Signals For Fall 2020

Holding steady. The benchmark S&P 500 Index and its white hot compadre the NASDAQ 100 have lately been uncharacteristically moving in a direction other than up. Since peaking on Wednesday, September 2, the S&P 500 has fallen by more than -6% and the tech heavy NASDAQ 100 by -10%. Is this recent stock correction simply fleeting? Or is it the start of a bigger fall as we head into the fall of this most unusual year in 2020?

Oh behave! The performance of both the S&P 500 and the NASDAQ 100 thus far during the recent pullback has been very well behaved from a technical perspective. In many respects, they have been textbook declines. For example, the S&P 500 declined sharply in the three trading days from last Thursday to this Tuesday, only to see the decline come to an immediate halt at its medium-term 50-day moving average support (blue

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Wall Street headed for second straight weekly fall

(Reuters) – The S&P 500 was largely flat in afternoon trading on Friday towards the end of another volatile week as investors weighed Oracle’s strong results against data that suggested a long and wobbly economic revival from a coronavirus-led downturn.

Oracle’s shares edged higher after hitting a record high earlier in the session as the cloud services company’s earnings beat estimates and it signaled a recovery in client spending due to higher remote working-led demand.

Trading in so-called “stay-at-home winners” — Apple Inc, Amazon.com Inc, Microsoft Corp and Netflix Inc — were mixed but the mega-caps were set to fall between 5% and 8% for the week, extending losses from last Friday that brought Wall Street’s rally to a screeching halt.

The S&P 500 was headed for the first back-to-back weekly decline since March as concerns about the massive build-up in call options tied to

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S&P 500 Drops 60 Points on Volatile Day: Oil Stocks Fall Sharply, Apple Leads Tech Stocks Down Again

The S&P 500 Index (SNPINDEX:^SPX) has been doing its best yo-yo impression over the past week. Today’s close was almost 1.8% lower, giving up almost 60 points after gaining 67 points, or 2%, yesterday. It’s the fourth session in the past five market days that the index, which makes up about 80% of total U.S. stock market capitalization, either gained or lost more than 1.75%. 

This marks nearly a week of high volatility that’s mostly been to the downside. Since a record close of 3,580.84 on Sept. 2, the S&P 500 has lost almost 7% of its value. Today’s sell-off, like most of the volatility we have seen this week, was broad, with the vast majority of the 505 stocks in the index finishing lower. Several sectors saw every stock fall on the day, and no sector had more gainers than losers. 

Red and green arrows on blocks.

Image source: Getty Images.

The hardest-hit sectors today

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Tech drags Dow down 405 points, oil prices fall amid crude buildup

Sept. 10 (UPI) — Tech stocks dragged U.S. markets down on Thursday, as oil prices also fell amid data showing a buildup in crude stockpiles.

The Dow Jones Industrial Average fell 405.89 points, or 1.45%, the S&P 500 dropped 1.76% and the Nasdaq Composite ended the day down 1.72% as tech stocks continue to drive the markets’ fortunes.

Apple stock closed down 3.26%, Amazon stock dropped 2.86%, Microsoft declined 2.8%, Facebook fell 2.1% and Google’s parent company, Alphabet, slid 1.37% after all five stocks rebounded to drive the market higher on Wednesday.

The S&P 500 tech sector has fallen 11.4% from Sept. 2 — when the overall market hit an all-time high — and Tuesday and the S&P 500 overall has fallen 7% in that time.

Oil prices also dropped Thursday as the Energy Information Administration reported that U.S. crude inventories increased by 2 million barrels for the week ending

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S.Korea stocks fall on U.S. tech rout, uptick in domestic virus cases

    * KOSPI falls, foreigners net sellers
    * Korean won weakens against U.S. dollar
    * South Korea benchmark bond yield rises

    SEOUL, Sept 11 (Reuters) - Round-up of South Korean
financial markets:
    
    ** South Korean shares fell on Friday after U.S. tech stocks
resumed their decline and an uptick in domestic coronavirus
cases hit investor sentiment. The Korean won weakened, while the
benchmark bond yield rose.
    
    ** By 0232 GMT, the benchmark KOSPI         fell 13.34
points, or 0.56%, to 2,383.14. The electric and electronics
subindex         declined 0.8%, with chip giant Samsung
Electronics             dropping 1% to lead the fall.
    
    ** "South Korean shares tracked the tech-led sell off in
U.S. shares, but a positive assessment on the country's
preliminary exports data seems to have capped further losses,"
said Choi Yoo-june, analyst at Shinhan Investment Corp.
    
    ** U.S. stocks closed lower overnight as heavyweight
tech-related stocks resumed their decline following a sharp
rebound 
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Asian shares mixed after technology fall leads US stock fall

Updated

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