Factbox: Half of S&P 500 is in correction territory, or worse

- Advertisement -


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.

- Advertisement -

Below are some notable facts about the ups and downs in US stocks.

- Advertisement -

* 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.

- Advertisement -

* 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.

Reporting by Noel Randwich; Editing by Cynthia Osterman

.

- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox