Sep 28 (Businesshala) – Wall Street shares were sold off broadly on Tuesday, as the upward trajectory of US Treasury yields and inflation concerns dampened risk appetite and sent investors fleeing the equity market.
Below are some notable facts about the ups and downs in US stocks.
* The benchmark 10-year Treasury yielded 1.567%, after investors became increasingly concerned about inflation and last week revealed its latest clues the US Federal Reserve slashed purchases of its assets and hiked interest rates. , reaching the level seen in the middle last time. -June.
* As of Tuesday afternoon, half of the S&P 500 (.SPX) stocks were down 10% or more from their 52-week highs, the definition of a correction. This included more than 60 stocks that fell 20% or more.
* With two sessions left in the month, the S&P 500 is down 3.6% in September, making it the index’s weakest month since September 2020, when the S&P 500 lost 3.9%.
* The Nasdaq (.IXIC) is now down 5.1% from its record high close on Sept. 7. It is the Nasdaq’s deepest drop from a record high since May.
* With growth stocks particularly exposed to rising interest rates, the S&P 500 Technology Index (.SPLRCT) was the worst-performing sector on Tuesday, down 2.5%, in line with the broader S&P 500. slashed its year-over-year profit to 16%.
* Despite the recent turmoil, volatility has largely calmed down on Wall Street this year, with the S&P 500 entering just 37 sessions with gains or losses of 1% or more. This compares to 109 such sessions in 2020 when the S&P 500 fell and recovered, the shortest bear market ever.