Market Recap – November 28th
Amid economic and social tensions escalating in China due to strict Covid protocols, investors were weary for the first trading day of the week, sending all three major indices into the red. The S&P 500 dropped 1.54%, the NASDAQ Composite went down 1.58%, and the Dow Jones fell 1.45%. Continuing the trend of substantial losses in the tech industry, both Zoom, and Micron Technologies suffered heavy losses on Monday. Shares of Zoom fell 5.05%, down 15% from the last eight days as investors have begun mass exits for the telecommunications company. Popular chip manufacturer Micron Technology was down 4.55% ahead of their weak forecast for the fourth 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.