Tech stocks led the market lower again Tuesday. The Nasdaq Composite Index entered its second bear market of 2022. That marks a close more than 20% below a recent high--in this case, the one from Aug. 15. Chip stocks were among the biggest losers, with Qualcomm, Applied Materials and ON Semiconductor all down more than 3%. The air came out of the markets after Bank of England's chief said the central bank's pension rescue plan will end Friday, as scheduled. The pound fell 0.6%. The bond market returned from a holiday with a fresh selloff, with Treasury yields testing the 4% level again before retreating.
Tech stocks led the market lower again Tuesday. The Nasdaq Composite Index entered its second bear market of 2022. That marks a close more than 20% below a recent high--in this case, the one from Aug. 15. Chip stocks were among the biggest losers, with Qualcomm, Applied Materials and ON Semiconductor all down more than 3%. The air came out of the markets after Bank of England's chief said the central bank's pension rescue plan will end Friday, as scheduled. The pound fell 0.6%. The bond market returned from a holiday with a fresh selloff, with Treasury yields testing the 4% level again before retreating.
My portfolio is like the popular, diverse and spicy curry chicken! It is made up of popular stocks that are diverse across different sectors, but lately it has been getting very red and spicy.
My portfolio is like the popular, diverse and spicy curry chicken! It is made up of popular stocks that are diverse across different sectors, but lately it has been getting very red and spicy.
@TigerEvents:[Rewards] Describe your portfolios with dishes
Stock market bears and bulls are the norm. Market did well during the covid early years was due to manipulation with quantitative easing. Now, we are paying the price of it- inflation. Of course, inflation was driven by other issues like long standing supply chain, China's zero covid policy and the war. Rate hikes are now leading to fears of recession. I do expect this market sentiment to last at least till end of the year. In addition, at the next earnings, if specific companies do not do well, stock prices will fall too. Personally, not too worried. This should be agood opportunity to add on good companiesor even ETFs. But, I am not in a hurry to addyet. Current small market rallies look like just dead cat bounces. I will patiently wait for the market to bottom before adding on goodst