S&P 500 Ends in Red as Tech Wreck Continues Ahead of Fed Meeting

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S&P 500 Ends in Red as Tech Wreck Continues Ahead of Fed Meeting

Investing.com2022-03-15

By Yasin Ebrahim Investing.com – The S&P 500 ended lower Monday, as energy was hurt by a slump in oil prices and tech wobbled on surging Treasury yields ahead of expectations for the Federal Reserve ...

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Yani94
·2022-03-15
Brave the dip trend!
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The Nasdaq closed in bear market territory, defined as a 20% loss from a recent peak, for the first time since March 2020. \nLittle progress was made on Ukraine-Russia negotiations on Monday, but with talks set to resume on Tuesday, there is hope that both sides' willingness for ongoing dialogue could prove the building blocks toward a ceasefire agreement.\nOil prices, which have been underpinned recently by concerns that a prolonged Ukraine-Russia war would meaningfully disrupt crude supplies, moved sharply lower and took energy stocks along for the ride.     \nSentiment on energy was further soured by downgrades from Morgan Stanley on oil majors including Occidental Petroleum (NYSE:OXY) and Chevron (NYSE:CVX) to equal-weight from overweight, citing valuation concerns.\nWith just days to go until the Federal Reserve is widely expected to begin its rate hiking cycle, Treasury yields surged higher. 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Financials started the week on the front foot as investors bet that banks are set to benefit from a rising interest rates environment.\n Northern Trust (NASDAQ:NTRS), Charles Schwab (NYSE:SCHW), Cincinnati Financial (NASDAQ:CINF), with the latter up more than 5%.\nIn other news, Ford (NYSE:F) slipped nearly 2% after Jefferies cut its price target on the automaker to $18 from $20 amid concerns that rising input costs and supply-chain woes will weigh on growth.\nRelated Articles\nFBI provides evidence of visa fraud at ZTE probation hearing\nOil falls on Ukraine peace hopes, U.S. Treasury yields rise","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9032898288,"gmtCreate":1647320527079,"gmtModify":1676534216313,"author":{"id":"3578815851933102","authorId":"3578815851933102","name":"Yani94","avatar":"https://static.tigerbbs.com/574b6d895fae79decd3eed14879f3195","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3578815851933102","authorIdStr":"3578815851933102"},"htmlText":"Brave the dip trend!","listText":"Brave the dip trend!","text":"Brave the dip trend!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9032898288","repostId":2219638201,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":2,"commentSize":1,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}