Market Recap – June 21st
On Wednesday’s trading day, markets whipsawed but finished lower at the bell, spelling worries about the strength of the recent rally. With a new address from Jerome Powell reaffirming the hawkish stance of the Fed, investors have slowly become weary of the thought of financial harm to several firms. For the broad indices, the S&P 500 dropped 0.52%, the NASDAQ Composite went down 1.21%, and the Dow Jones fell 0.30%.
Also in the red was microchip manufacturer Advanced Micro Devices which fell 5.73% as shareholders believe the stock is overvalued, showing a return of over 75% in six months. One company to beat the performance of today’s indices was retailer Dollar Tree, which rose 4.56% after a successful bottom-line performance the previous quarter.
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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.