Nasdaq had worst days since 2020
Stocks pulled back sharply on Thursday, completely erasing a rally from the prior session in a stunning reversal that delivered investors one of the worst days since 2020.
The tech-heavy Nasdaq Composite fell 4.99% to finish at 12,317.69, its lowest closing level since November 2020. The moves come after a major rally for stocks on Wednesday,
when the The Nasdaq Composite jumped 3.19%.
Those gains had all been erased before noon in New York on Thursday.
“If you go up 3% and then you give up half a percent the next day, that’s pretty normal stuff. ... But having the kind of day we had yesterday and then seeing it 100% reversed within half a day is just truly extraordinary,”
arge tech stocks were under pressure, with Facebook-parent Meta Platforms and Amazon falling nearly 6.8% and 7.6%, respectively. Microsoft dropped about 4.4%. Salesforce tumbled 7.1%. Apple sank close to 5.6%.
E-commerce stocks were a key source of weakness on Thursday following some disappointing quarterly reports.
Etsy and eBay dropped 16.8% and 11.7%, respectively, after issuing weaker-than-expected revenue guidance. Shopify fell nearly 15% after missing estimates on the top and bottom lines.
The declines dragged Nasdaq to its worst day in nearly two years.
The tech-heavy Nasdaq Composite fell 4.99% to finish at 12,317.69, its lowest closing level since November 2020. The moves come after a major rally for stocks on Wednesday,
when the The Nasdaq Composite jumped 3.19%.
Those gains had all been erased before noon in New York on Thursday.
“If you go up 3% and then you give up half a percent the next day, that’s pretty normal stuff. ... But having the kind of day we had yesterday and then seeing it 100% reversed within half a day is just truly extraordinary,”
arge tech stocks were under pressure, with Facebook-parent Meta Platforms and Amazon falling nearly 6.8% and 7.6%, respectively. Microsoft dropped about 4.4%. Salesforce tumbled 7.1%. Apple sank close to 5.6%.
E-commerce stocks were a key source of weakness on Thursday following some disappointing quarterly reports.
Etsy and eBay dropped 16.8% and 11.7%, respectively, after issuing weaker-than-expected revenue guidance. Shopify fell nearly 15% after missing estimates on the top and bottom lines.
The declines dragged Nasdaq to its worst day in nearly two years.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.