Closing post
Time to wrap up.. here’s today’s main stories.
Goodnight. GW
Back on Wall Street, stocks remain bogged down.
The S&P 500 index has stuck in the red all morning, now down 1.86% or 82 points at 4,328 points.
The tech sector is leading the selloff, followed by consumer discretionary stocks, communications, materials, and industrials. Only energy is higher.
Walid Koudmani, market analyst at financial brokerage XTB, sums up the situation:
“Markets are increasingly uncertain as contrasting signs continue to emerge and add to the already noticeable volatility perceived across a variety of asset classes.
While one of the main concerns continues to be rising inflation and the imminent monetary policy decision due from the Fed on Wednesday, rising tensions on the Russia-Ukraine border and some disappointing earnings in this latest Wall Street season have added fuel to the fire and caused even bigger moves.
While the instability seen across indices and stock markets may appear to be a technical correction, there is a risk that there might be more to come if these complex situations are not addressed in the appropriate manner.”
