Market Recap – January 24th
Markets continued their bearish trajectory, with this Monday serving as a grave milestone for what were once some of the hottest stocks. Yesterday, U.S stocks crashed hard, marking the S&P 500′s worst week since March 2020. All this came in anticipation of corporate earnings results as well the Federal Reserve’s policy decisions. Looking at the other major indexes, the DOW dropped 2.9%, falling for a seventh straight day. The Nasdaq, keeping its title of “biggest loser of 2022” declined 4.5%. Looking at some specific stocks, we’ve been watching Nvidia and Tesla. Both stocks have tanked, with Tesla falling near 9% in a day, and placing it 28.3% below its 52-week high and Nvidia dropped 9.63%, placing it 36.7% below its 52-week high.
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.