Market Recap – May 9th
Once again, the markets got beat up with the S&P 500 down 3.2%, the Dow Jones down 1.99%, and the NASDAQ down 4.29%. The cyclical, blue chip stocks had themselves a much better day as shown by the Dow’s performance, highlighting the concern about interest rates on companies. Rivian fell by 20 percent after Ford disclosed that they might sell their 8 percent stake in the company, but it got worse. After the market closed, Upstart Holdings fell by a whopping 45 percent after they cut their forecast for the rest of the year.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.