NASDAQ Friday 09-10-2022

Daily NASDAQ Update

The stock market took a sharp dive today, with the Dow Jones Industrial Average falling over 1,000 points. The Nasdaq Composite and the S&P 500 both fell around 4 percent. This sell-off was driven by fears of a second wave of coronavirus infections as well as reports that the U.S. government is considering new tariffs on Chinese imports.

The hardest-hit stocks were in the tech sector, with shares of Apple, Amazon, and Tesla all falling sharply. Other major decliners included Boeing, Goldman Sachs, and IBM.

There were a few bright spots, however. Shares of DraftKings surged after the company announced a partnership with Caesars Entertainment. And shares of American Airlines rose after the company announced that it will begin flying to Europe and the Caribbean again in July.

The U.S. stock market experienced heavy losses on Wednesday amid a sell-off in tech stocks. The Dow Jones Industrial Average fell more than 1,000 points, or 3.8%, while the S&P 500 and Nasdaq Composite dropped 3.4% and 4.1%, respectively.

The selling pressure was driven by a combination of factors, including a rise in bond yields, ongoing worries about the coronavirus pandemic and fresh concern about the future of U.S.-China relations.

The Dow was led lower by Boeing (BA), Goldman Sachs (GS) and Apple (AAPL), while the S&P 500’s biggest decliners included Shopify (SHOP), Booking Holdings (BKNG) and Nvidia (NVDA).

On the bright side, shares of American Airlines (AAL) and United Airlines (UAL) rallied after the carriers announced plans to raise $6 billion and $4.5 billion, respectively, through debt and equity sales.

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