S&P 500 Tumbled to New Low for 2022, As All Sectors Dipped Into the Red
Tiger Newspress2022-05-09
Stocks fell sharply Monday, pushing the S&P 500 to a fresh 52-week low, as the market sell-off continued and traders struggled to find their footing from last week’s big market swings.
The S&P 500 traded as low as 4,045.12 on the day, as all sectors dipped into the red.
The Dow Jones Industrial Average dropped 477 points, or 1.45%, while the Nasdaq Composite lost 3.15%.
Rising rates continued to put pressure on technology names such as Meta Platforms and Alphabet, which fell more than 3% and 2.5%, respectively. Amazon and Apple were all down more than 3%, while Tesla and Nvidia dipped about 5%.
Boeing marked the biggest loser in the Dow, falling more than 5% followed by energy bellwether Chevron which slipped 3.7% as U.S. oil futures continued to slide. Home Depot and Walmart remained bright spots in the market, posting gains amid the broader sell-off.
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