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RecceCommand
2021-04-15

Ouch!!

S&P 500 falls from record as tech weakness offsets rally in bank shares, Nasdaq closes 1% lower

The S&P 500 slipped from record levels in volatile trading on Wednesday amid a sell-off in technolog

S&P 500 falls from record as tech weakness offsets rally in bank shares, Nasdaq closes 1% lower

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ZefactoTrader
·2021-04-15
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The path of least resistance for stocks continues to seem to be to go higher, with the market climbing a wall of worries that just doesn’t go away.”Bank stocks have risen sharply so far this year, with the S&P 500 financials sector gaining nearly 20%, easily outpacing the S&P 500.In other news, Federal Reserve Chair Jerome Powell on Wednesday said the central bank will reduce its bond purchases likely well before it hikes interest rates.“We will reach the time at which we will taper asset purchases when we have made substantial further progress towards our goals from last December,” Powell said to the Economic Club of Washington. “That would in all likelihood be before, well before, the time we would consider raising interest rates. We have not voted on that order but that is the sense of the guidance.”On Tuesday, the Food and Drug Administration called for a pause in administering J&J’s Covid-19 vaccine after six people in the U.S. developed a rare disorder involving blood clots. 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