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- DaDa29DaDa29
  ·2023-02-25
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  Wall St Ends Sharply Down, Posts Biggest Weekly Drop of 2023
  Dow's worst weekly performance in 5 monthsPCE data comes in strong, showing resilient consumerFor th
  Wall St Ends Sharply Down, Posts Biggest Weekly Drop of 2023
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brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1677279021,"share":"https://ttm.financial/m/news/2314011339?lang=&edition=fundamental","pubTime":"2023-02-25 06:50","market":"us","language":"en","title":"Wall St Ends Sharply Down, Posts Biggest Weekly Drop of 2023","url":"https://stock-news.laohu8.com/highlight/detail?id=2314011339","media":"Reuters","summary":"Dow's worst weekly performance in 5 monthsPCE data comes in strong, showing resilient consumerFor th","content":"<html><head></head><body><ul><li>Dow&#39;s worst weekly performance in 5 months</li><li>PCE data comes in strong, showing resilient consumer</li><li>For the week, all down: Dow 2.99%, S&amp;P 2.66%, Nasdaq 3.33%</li><li>Indexes down: Dow 1.02%, S&amp;P 1.05%, Nasdaq 1.69%</li></ul><p>Wall Street&#39;s main indexes posted their biggest weekly drop of 2023 after sharp losses on Friday, as investors braced for the possibility of more aggressive rate hikes from the U.S. Federal Reserve as U.S. economic data pointed to resilient consumers.</p><p>For the blue-chip Dow Jones Industrial Average   , the 3% fall was its biggest weekly decline since September. It was also the Dow&#39;s fourth straight weekly decline, its longest losing streak for nearly 10 months.</p><p>The S&amp;P 500 and Nasdaq Composite were also down 2.7% and 3.3%, respectively.</p><p>After a strong January, stocks have retreated this month as a slew of economic data amplified worries that the U.S. central bank might have to keep rates higher for longer.</p><p>Data on Friday showed the personal consumption expenditures (PCE) price index, the Fed&#39;s preferred inflation gauge, shot up 0.6% last month after gaining just 0.2% in December. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, jumped 1.8% last month, exceeding forecasts for a 1.3% rise.</p><p>Jason Pride, chief investment officer of private wealth at Glenmede, said previous market cycles had witnessed similar delayed reactions by the market to rising interest rates and data releases, which helps explain volatile trading patterns as investors slowly adjust.</p><p>&#34;This market has not yet realized the likelihood of a recession that we think is reality,&#34; he said, noting past rate hikes normally had taken between six and 18 months before their effects had fully filtered through into the economy.</p><p>&#34;We don&#39;t think (a recession is) a given, but there&#39;s a higher likelihood than the market has embedded in its thought process.&#34;</p><p>Traders of futures tied to the Fed&#39;s policy rate added to bets of at least three more rate hikes this year, with the peak rate seen in the range of 5.25%-5.5% by June.</p><p>Cleveland Fed President Loretta Mester said the Fed should raise interest rates higher than necessary if need be to get inflation fully under control.</p><p>The Dow Jones Industrial Average fell 336.99 points, or 1.02%, to 32,816.92, the S&amp;P 500    lost 42.28 points, or 1.05%, to 3,970.04 and the Nasdaq Composite    dropped 195.46 points, or 1.69%, to 11,394.94.</p><p>Nine of the 11 major S&amp;P sectors fell, with real estate, technology and consumer discretionary the biggest decliners. Communication services fell 1.4% to a sixth straight loss, its worst run since a similar six-session skid in August.</p><p>Megacap stocks including Tesla Inc, Amazon.com Inc and Nvidia Corp slid between 1.6% and 2.6% as Treasury yields rose.</p><p>The yield on two-year Treasury notes, which are highly sensitive to Fed policy, climbed to 4.826% - its highest in nearly four months.</p><p>Boeing Co slid 4.8% after the Federal Aviation Administration said the planemaker temporarily halted deliveries of its 787 Dreamliner jets.</p><p><a href=\"https://laohu8.com/S/ADBE\">Adobe</a> Inc sank 7.6% on reports the U.S. Justice Department would block the Photoshop maker&#39;s $20 billion bid for cloud-based designer platform Figma.</p><p>The decline in Adobe&#39;s stock was the largest since Sept. 15, the day the Figma agreement was announced.</p><p>Meanwhile, Range Resources Corp jumped 11.9% in late trading, its biggest gain in nine months, after Bloomberg News reported that Pioneer Natural Resources was in talks to buy it. Pioneer&#39;s stock fell 4.1% on the report.</p><p>Volume on U.S. exchanges was 10.31 billion shares, compared with the 11.53 billion average for the full session over the last 20 trading days.</p><p>The S&amp;P 500 posted 2 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 44 new highs and 162 new lows.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall St Ends Sharply Down, Posts Biggest Weekly Drop of 2023</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall St Ends Sharply Down, Posts Biggest Weekly Drop of 2023\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2023-02-25 06:50</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><ul><li>Dow&#39;s worst weekly performance in 5 months</li><li>PCE data comes in strong, showing resilient consumer</li><li>For the week, all down: Dow 2.99%, S&amp;P 2.66%, Nasdaq 3.33%</li><li>Indexes down: Dow 1.02%, S&amp;P 1.05%, Nasdaq 1.69%</li></ul><p>Wall Street&#39;s main indexes posted their biggest weekly drop of 2023 after sharp losses on Friday, as investors braced for the possibility of more aggressive rate hikes from the U.S. Federal Reserve as U.S. economic data pointed to resilient consumers.</p><p>For the blue-chip Dow Jones Industrial Average   , the 3% fall was its biggest weekly decline since September. It was also the Dow&#39;s fourth straight weekly decline, its longest losing streak for nearly 10 months.</p><p>The S&amp;P 500 and Nasdaq Composite were also down 2.7% and 3.3%, respectively.</p><p>After a strong January, stocks have retreated this month as a slew of economic data amplified worries that the U.S. central bank might have to keep rates higher for longer.</p><p>Data on Friday showed the personal consumption expenditures (PCE) price index, the Fed&#39;s preferred inflation gauge, shot up 0.6% last month after gaining just 0.2% in December. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, jumped 1.8% last month, exceeding forecasts for a 1.3% rise.</p><p>Jason Pride, chief investment officer of private wealth at Glenmede, said previous market cycles had witnessed similar delayed reactions by the market to rising interest rates and data releases, which helps explain volatile trading patterns as investors slowly adjust.</p><p>&#34;This market has not yet realized the likelihood of a recession that we think is reality,&#34; he said, noting past rate hikes normally had taken between six and 18 months before their effects had fully filtered through into the economy.</p><p>&#34;We don&#39;t think (a recession is) a given, but there&#39;s a higher likelihood than the market has embedded in its thought process.&#34;</p><p>Traders of futures tied to the Fed&#39;s policy rate added to bets of at least three more rate hikes this year, with the peak rate seen in the range of 5.25%-5.5% by June.</p><p>Cleveland Fed President Loretta Mester said the Fed should raise interest rates higher than necessary if need be to get inflation fully under control.</p><p>The Dow Jones Industrial Average fell 336.99 points, or 1.02%, to 32,816.92, the S&amp;P 500    lost 42.28 points, or 1.05%, to 3,970.04 and the Nasdaq Composite    dropped 195.46 points, or 1.69%, to 11,394.94.</p><p>Nine of the 11 major S&amp;P sectors fell, with real estate, technology and consumer discretionary the biggest decliners. Communication services fell 1.4% to a sixth straight loss, its worst run since a similar six-session skid in August.</p><p>Megacap stocks including Tesla Inc, Amazon.com Inc and Nvidia Corp slid between 1.6% and 2.6% as Treasury yields rose.</p><p>The yield on two-year Treasury notes, which are highly sensitive to Fed policy, climbed to 4.826% - its highest in nearly four months.</p><p>Boeing Co slid 4.8% after the Federal Aviation Administration said the planemaker temporarily halted deliveries of its 787 Dreamliner jets.</p><p><a href=\"https://laohu8.com/S/ADBE\">Adobe</a> Inc sank 7.6% on reports the U.S. Justice Department would block the Photoshop maker&#39;s $20 billion bid for cloud-based designer platform Figma.</p><p>The decline in Adobe&#39;s stock was the largest since Sept. 15, the day the Figma agreement was announced.</p><p>Meanwhile, Range Resources Corp jumped 11.9% in late trading, its biggest gain in nine months, after Bloomberg News reported that Pioneer Natural Resources was in talks to buy it. Pioneer&#39;s stock fell 4.1% on the report.</p><p>Volume on U.S. exchanges was 10.31 billion shares, compared with the 11.53 billion average for the full session over the last 20 trading days.</p><p>The S&amp;P 500 posted 2 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 44 new highs and 162 new lows.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"513500":"标普500ETF","LU0122376428.USD":"贝莱德世界能源基金A2","LU0300736062.USD":"FRANKLIN NATURAL RESOURCES \"A\" (USD) ACC","RRC":"山脉资源","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","BK4559":"巴菲特持仓","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","BK4535":"淡马锡持仓","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","LU0943347566.SGD":"安联收益及增长平衡基金AM H2-SGD","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","CGEM":"Cullinan Therapeutics","LU0238689110.USD":"贝莱德环球动力股票基金","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","BK4581":"高盛持仓","LU0823411888.USD":"法巴消费创新基金 Cap","IE00BJTD4V19.USD":"NEUBERGER BERMAN US LONG SHORT EQUITY \"A1\" (USD) ACC",".DJI":"道琼斯","GB00BDT5M118.USD":"天利环球扩展Alpha基金A Acc",".IXIC":"NASDAQ Composite","BK4099":"汽车制造商","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","APR":"Apria, Inc.",".SPX":"S&P 500 Index","LABP":"Landos Biopharma, Inc.","SSO":"两倍做多标普500ETF","LU0353189680.USD":"富国美国全盘成长基金Cl A Acc","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","OEF":"标普100指数ETF-iShares","BK4532":"文艺复兴科技持仓","BK4588":"碎股","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU0097036916.USD":"贝莱德美国增长A2 USD","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU0368265418.SGD":"Blackrock World Energy Fund A2 SGD-H","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","NVDA":"英伟达","LU0276348264.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN\"AUP\" (USD) INC","BK4196":"保健护理服务","LU1861215975.USD":"贝莱德新一代科技基金 A2","TSLA":"特斯拉","BK4524":"宅经济概念"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2314011339","content_text":"Dow's worst weekly performance in 5 monthsPCE data comes in strong, showing resilient consumerFor the week, all down: Dow 2.99%, S&P 2.66%, Nasdaq 3.33%Indexes down: Dow 1.02%, S&P 1.05%, Nasdaq 1.69%Wall Street's main indexes posted their biggest weekly drop of 2023 after sharp losses on Friday, as investors braced for the possibility of more aggressive rate hikes from the U.S. Federal Reserve as U.S. economic data pointed to resilient consumers.For the blue-chip Dow Jones Industrial Average   , the 3% fall was its biggest weekly decline since September. It was also the Dow's fourth straight weekly decline, its longest losing streak for nearly 10 months.The S&P 500 and Nasdaq Composite were also down 2.7% and 3.3%, respectively.After a strong January, stocks have retreated this month as a slew of economic data amplified worries that the U.S. central bank might have to keep rates higher for longer.Data on Friday showed the personal consumption expenditures (PCE) price index, the Fed's preferred inflation gauge, shot up 0.6% last month after gaining just 0.2% in December. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, jumped 1.8% last month, exceeding forecasts for a 1.3% rise.Jason Pride, chief investment officer of private wealth at Glenmede, said previous market cycles had witnessed similar delayed reactions by the market to rising interest rates and data releases, which helps explain volatile trading patterns as investors slowly adjust.\"This market has not yet realized the likelihood of a recession that we think is reality,\" he said, noting past rate hikes normally had taken between six and 18 months before their effects had fully filtered through into the economy.\"We don't think (a recession is) a given, but there's a higher likelihood than the market has embedded in its thought process.\"Traders of futures tied to the Fed's policy rate added to bets of at least three more rate hikes this year, with the peak rate seen in the range of 5.25%-5.5% by June.Cleveland Fed President Loretta Mester said the Fed should raise interest rates higher than necessary if need be to get inflation fully under control.The Dow Jones Industrial Average fell 336.99 points, or 1.02%, to 32,816.92, the S&P 500    lost 42.28 points, or 1.05%, to 3,970.04 and the Nasdaq Composite    dropped 195.46 points, or 1.69%, to 11,394.94.Nine of the 11 major S&P sectors fell, with real estate, technology and consumer discretionary the biggest decliners. Communication services fell 1.4% to a sixth straight loss, its worst run since a similar six-session skid in August.Megacap stocks including Tesla Inc, Amazon.com Inc and Nvidia Corp slid between 1.6% and 2.6% as Treasury yields rose.The yield on two-year Treasury notes, which are highly sensitive to Fed policy, climbed to 4.826% - its highest in nearly four months.Boeing Co slid 4.8% after the Federal Aviation Administration said the planemaker temporarily halted deliveries of its 787 Dreamliner jets.Adobe Inc sank 7.6% on reports the U.S. Justice Department would block the Photoshop maker's $20 billion bid for cloud-based designer platform Figma.The decline in Adobe's stock was the largest since Sept. 15, the day the Figma agreement was announced.Meanwhile, Range Resources Corp jumped 11.9% in late trading, its biggest gain in nine months, after Bloomberg News reported that Pioneer Natural Resources was in talks to buy it. Pioneer's stock fell 4.1% on the report.Volume on U.S. exchanges was 10.31 billion shares, compared with the 11.53 billion average for the full session over the last 20 trading days.The S&P 500 posted 2 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 44 new highs and 162 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":260,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}