Market Recap – April 11th
Stocks fell Monday in reaction to climbing interest rates and tighter monetary policy from the Federal Reserve which could slow economic growth. The Dow fell 180 points or 0.6%, The S&P 500 dropped 1.2%, and the tech-heavy Nasdaq Composite declined 1.8%. Concurrently, the 10-year Treasury yield hit a high of 2.78% (its highest point since January 2019). We’re currently watching two stocks – AT&T and Twitter. When it comes to AT&T the stock popped 5.7% after officially spinning off its old WarnerMedia to merge with Discovery. Twitter’s stock was also on the move after it was revealed by Twitter’s CEO that Elon Musk abandoned his plan to join the company’s board.
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.