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Dow Plummets 2,000 Points Amid Coronavirus Fears

The stock market’s performance changes every day in response to a variety of events, both nationally and globally. Everything from the war in Ukraine and interest rates to inflation and earnings season reports rattled investors in recent weeks. We https://www.ig.com/en/forex/what-is-forex-and-how-does-it-work specialize in the futures and options markets, serving traders worldwide with a continuous information service of quotes, charts and news. We are also a storefront for trading tools, charts, publications, educational courses and other resources.

stock market news today

In FX, the dollar rose, while the euro slipped, along with safe-havens Swiss Franc and Japanese yen. Crude oil was up sharply again, after a record production slump in the US – due to adverse weather – more than offset China’s decision to release crude from its strategic reserves. US consumer price inflation hit a 13-year high of 5.4% Forex in July — August’s figure is out tomorrow — while the prices charged by goods and services producers hit a series high of 8.3% last month. Federal Reserve officials are watching these inflation expectation reports, as they look for evidence whether the jump in prices under the pandemic will be temporary, or is becoming entrenched.

Dow Plummets 2,000 Points Amid Coronavirus Fears

Apparel sales rose 8%, while sales of footwear fell 4% and accessories revenue fell 18%. Under Armour shares fell after reporting first-quarter earnings on Friday, hurt by higher freight costs denting the bottom line. It’s still not a victory for an IPO market that’s been on ice since late winter. The eye-care company, a spinoff of Bausch Health Cos., priced its IPO at $18 a share late Thursday, well below its targeted range of $21-$24 a share, giving the company a valuation Forex of roughly $6.3 billion. That’s less than half of what the company had been hoping to reach earlier this year, according to people familiar with the deal. Stocks finished an eventful week in the red as investors parsed a range of information including an interest-rate increase from the Federal Reserve and new monthly jobs data. The Dow Jones Industrial Average closed Friday down 0.3%, a day after the blue-chip index slumped more than 1,000 points, its worst day since 2020.

  • Fueled by record gas prices, inflation has been running at the hottest level in 40 years, but new data shows the worst may be over.
  • However, we are now entering a period when slowing growth will determine how stocks trade from here.
  • China’s level of COVID immunity is not strong enough to fight an uncontrolled omicron epidemic, which could cause a «tsunami» of 1.55 million deaths if allowed to spread unchecked.
  • The athletic equipment company also issued guidance below Wall Street expectations, saying that supply-chain snarls and other inflationary pressures could drag down earnings this year.

High demand, low supplies and weather disruption which has curbed renewable power production are all triggering a surge in prices. Feedspot has a team of over 50 experts whose goal is to discover and rank blogs, podcasts and youtube channels in several niche categories.

Bidens Policies fuel More Inflation: Rep Darrell Issa

Friday’s yield moves came after the previous day’s surge, which caught many investors off guard. Seeking Alpha is the LKNCY stock price today premier website for actionable stock market opinion and analysis, and vibrant, intelligent finance discussion.

stock market news today

As a global financial services firm, Morgan Stanley is committed to technological innovation. We rely on our technologists around the world to create leading-edge, secure platforms for all our businesses. We have global expertise in market analysis and in advisory and capital-raising https://dotbig.com/markets/stocks/LKNCY/ services for corporations, institutions and governments. Another hot inflation read pushed more nervousness into U.S. financial markets. Goldman Sachs said the Japanese yen «screens as the cheapest safe haven asset by far — at a time when global recession risk is on the rise.»