Market Recap – February 8th
Throughout Wednesday’s trading day, investors seemed to digest yesterday’s Powell address in a different light, worried over the Fed’s new thought process following the recent jobs report. At the bell, the S&P 500 fell 1.11%, the NASDAQ Composite went down 1.68%, and the Dow Jones just fell by 0.61%.
In accordance with the broader indices, shares of cloud network data company Lumen lost 20.1% of their value following their Q4 revenue loss that totalled over $3 billion. Also on the losing front was Google, which lost 7.7% following a lacklustre event to display its new AI technologies alongside its search engine.
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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.