US stocks fell sharply on Monday, push Standard & Poor’s 500 Below the 4000 key level as investors brace for another week of volatility amid a fresh report on inflation, as well as the conclusion of the first-quarter earnings season.
ribbon | protection | else | they change | they change % |
---|---|---|---|---|
Me: DJI | Dow Jones averages | 32245.7 | -653.67 | -1.99% |
SP500 | Standard & Poor’s 500 | 3991.24 | -132.10 | -3.20% |
I: COMP | Nasdaq Composite Index | 11623.2484 | -521.41 | -4.29% |
The Dow Jones Industrial Average is down more than 600 points, or 2%, the Nasdaq Composite is down 4%, and the S&P is down to levels not seen since April 2021.
Big-cap technology contributed the bulk of the sale, with Apple and AMD among the biggest losers.
Benefits of Tyson foods such as beef, chicken and beef prices
ribbon | protection | else | they change | they change % |
---|---|---|---|---|
AAPL | Apple company | 152.44 | -4.84 | -3.08% |
AMD | Advanced Micro Devices Company | 86.36 | -8.98 | -9.42% |
The 10-year Treasury yield remained above 3%. Currently, 436 companies in the S&P 500, or nearly 90% of the benchmark, have published results for January through March, and so far the numbers have come in well ahead of expectations.
In earnings, Tyson Foods bucked the sale as higher prices for beef, chicken and pork helped drive sales at the meat processor.
ribbon | protection | else | they change | they change % |
---|---|---|---|---|
TSN | Tyson Foods Co | 92.84 | +2.02 | + 2.22% |
Shares of Rivian fell after Ford cut its stake in the electric car maker by 8%.
ribbon | protection | else | they change | they change % |
---|---|---|---|---|
countryside | RIVIAN AUTOMOTIVE INC. | 22.78 | -6.01 | -20.88% |
F | Ford Motor Company. | 13.37 | -0.84 | -5.91% |
Uber shares lost ground after the company assured FOX Business that it would cut hiring and focus on cost control.
ribbon | protection | else | they change | they change % |
---|---|---|---|---|
Uber | Uber technology company | 23.05 | -3.02 | -11.58% |
Richard Branson’s Virgin Galactic fell after Trust Securities analyst Michale Ciarmoli cut its target price from $24 to $8 a share after the space company delayed its commercial travel plans until 2023.
ribbon | protection | else | they change | they change % |
---|---|---|---|---|
SPCE | Virgin Galactic Holdings Inc. | 6.07 | -0.73 | -10.74% |
battered US stocks may not be bargaining as investors brace for inflation data
Oil was lower along with gold, with US crude oscillating at $103 a barrel and the yellow metal at $1,857 an ounce.
China remains an outsider in an ever-expanding world
ribbon | protection | else | they change | they change % |
---|---|---|---|---|
USO | United States Petroleum Fund LP | 76.57 | -5.56 | -6.77% |
GLD | SPDR Gold Stock Confidence – EUR ACC | 172.89 | -2.59 | -1.48% |
With crude oil lower, so did major oil companies including Marathon, ExxonMobil and Chevron, as lockdown fears in China threaten demand.
ribbon | protection | else | they change | they change % |
---|---|---|---|---|
MRO | Marathon Oil Company. | 24.22 | -3.93 | -13.96% |
CVX | Chevron Corporation. | 159.38 | -11.44 | -6.70% |
XOM | EXXON MOBIL CORP. | 84.49 | -7.23 | -7.88% |
Gas prices, per AAA, were again trading above $4.30 per gallon.
Bitcoin also fell to the $31,000 level.
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The Associated Press contributed to this report.
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