Market Recap – March 1st 💰

On the first trading day of the new month, the market whipsawed, mostly finishing lower after the bell. Throughout the day, investors feared the changes in the yield of the 10-year Treasury note, which reached up to 4%, for the first time since November. At the end of the day, all but one index was left with losses, with the S&P 500 losing 0.47%, the NASDAQ Composite going down 0.66%, and the Dow Jones rising by just 0.02%.

The biggest, although disappointing news to come from the EV industry was automaker Rivian Automotive, which saw its shares drop 18.34% off of a weak production outlook. Also on the losing front was vaccine manufacturer Novavax, which lost over a quarter of its value at 25.92% after expressing concerns over the failures of its operations.

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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.

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