This Monday saw all major indices in sharp decline, at the closure of the market session: S&P fell 3.2%, NASDAQ -4.3% and Dow Jones Industrial Average lost -2%.
After the nightmare lived last Friday tech stocks were still shocked. In a market session that saw AMD leading the loss falling more than 9%.
All the other player from chipset to big tech were mainly in negative: AMD (-9.44%) and the tech were in a down trend with Amazon (-5.12%), Google (-2.23%), Meta (-3.69%), Microsoft (-3.67%), Netflix (-4.33%), Snap (-6.14%), Paypal (-2.63%), Twitter -3.69%.
In the mobility sector, the market saw two giants falling: LYFT slipped -by 9.26%, and Uber Technologies fell as well by -11.58%.
The energy sector ended this turbulent first day of the week tumbling: BP reported a -6.84%, Baker Hughes (-6.47%), APA(-14.92%), Devon Energy Corporation (-11.01%) Schlumberger NV (-11.60%), Halliburton (-10.68%).
The financial sector was brought down with the rest of the market.
Visa (-4.84%), American Express (-3.67%), JPMorgan Chase (-1.50%), and Goldman Sachs (-1.30%), Morgan Stanley (-3.66%).
The air-travel companies as well performed very badly: Boeing lost around -10.47%, United Airlines stock (-8.86%), Alaska Air Group (-5.87%), and American Airlines (-8.52%).
The big impact is given from China which as of today there are more than 500 merchant ships waiting outside of the ports.
For analysts, this shock to the real economy will be perceived in 40-50 days when we could have real issues in the supply chain.
Covid-zero policy in China is acting as a big deterrent to the worldwide economy and the instability in Europe caused by war is creating the base for one of the greatest devastating economic domino effects.
Carried down all the stocks related to the crypto world, due to Bitcoin falling to its lowest level since last June. Coinbase slipped -by 19.50%, Marathon Digital -by 19.20%, and Riot Blockchain -by 19.18%. All the stocks related to crypto are double-digit down.
S&P scares the investors due to the 52-weeks-low reached today and a possible drop below this price level may open the road to a free fall of the index.
Most traded stocks:
- AMD -10.30% 112.80M
- Apple -3.42% 91.01M
- NVIDIA -9.20% 46.66M
- Exxon Mobil -8.00% 30.95M
- Microsoft -3.55% 27.73M
Top Gainers of US Stocks
- Hemisphere 78.91%
- Blue Water Vaccines 65.16%
- Points International 43.73%
- ServiceSource 41.18%
- LogicBio Therapeutics 38.94%
Top Losers of US Stocks
- CooTek Cayman -77.02%
- Akanda -72.84%
- Party City Holdco Inc -62.74%
- TherapeuticsMD -41.62%
- Fusion Fuel Green -33.78%
