U.S. Stocks Open Sharply Lower on Monday; AMC Entertainment Shares Plunge

Tiger Newspress2022-08-22

U.S. stocks fell Monday following a halt in the summer rally last week, as fears of aggressive interest rate hikes returned to Wall Street.

Dow Jones Industrial Average fell 376 points, or by 1.12%. S&P 500 and Nasdaq Composite dropped 1.29% and 1.42%, respectively.

Investors are anticipating what could be a volatile week of trading ahead of Fed Chairman Jerome Powell’s latest comments on inflation at the central bank’s annual Jackson Hole economic symposium.

AMC Entertainment shares cratered more than 37% in morning trading amid newsthat Cineworld, which owns U.S. movie theater chain Regal Cinemas, is considering filing for bankruptcy.

The stock move came ahead of the launch of AMC’s “APE” preferred equity units on Monday.

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Comments

  • Thomas71
    2022-08-23
    Thomas71
    👍
  • Ragz
    2022-08-23
    Ragz
    Things are gonna get worse 
  • PearlynCSY
    2022-08-23
    PearlynCSY
    The Dow Jones Industrial Average fell sharply Monday, in its worst day since June, as the summer rally fizzled out and fears of aggressive interest rate hikes returned to Wall Street. The Dow fell 1.91%, to 33,063.61. The S&P 500 dropped 2.14% to 4,137.99, and the Nasdaq Composite tumbled 2.55% to 12,381.57, respectively. It was the worst day of trading since June 16 for the Dow and the S&P 500. Investors are anticipating what could be a volatile week of trading ahead of Federal Reserve Chairman Jerome Powell’s latest comments on inflation at the central bank’s annual Jackson Hole economic symposium. “When you see the market right now dropping down like this, this is the market saying the Fed has to be more aggressive to slow the economy down further” if they want to bring inflatio
  • Bspn
    2022-08-22
    Bspn
    K
  • BKT
    2022-08-22
    BKT
    Pls like thanks.
  • YauDK
    2022-08-22
    YauDK
    Ye 
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