Apple, Tesla, Microsoft and Intel are set to report earnings this week
Selling of U.S. stocks picked up momentum midday on reports President Biden will hold a video call this afternoon with European leaders in response to Russia’s military buildup on Ukraine’s borders.
The Dow Jones Industrial Average fell over 1,000 points or 3%, while the S&P 500 lost 3.8% entering a correction, down 10% from its peak. The Nasdaq Composite fell deeper into its own correction off 4%.
"We are now dealing with legitimate risk in the market," said Jeff Sica, CIO of Circle Squared Alternative Investments.
Oil also fell to the $83 per barrel level.
Some economists believe the U.S. central bank needs to move faster to tamp down surging prices by raising rates. U.S. consumer prices rose 7% in December compared to a year earlier, the biggest increase in nearly four decades.
In crypto currencies, Bitcoin continued its slide to the $33,000 level.
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Selling of U.S. stocks picked up momentum midday on reports President Biden will hold a video call this afternoon with European leaders in response to Russia’s military buildup on Ukraine’s borders.
The Dow Jones Industrial Average fell over 1,000 points or 3%, while the S&P 500 lost 3.8% entering a correction, down 10% from its peak. The Nasdaq Composite fell deeper into its own correction off 4%.
"We are now dealing with legitimate risk in the market," said Jeff Sica, CIO of Circle Squared Alternative Investments.
Oil also fell to the $83 per barrel level.
Some economists believe the U.S. central bank needs to move faster to tamp down surging prices by raising rates. U.S. consumer prices rose 7% in December compared to a year earlier, the biggest increase in nearly four decades.
In crypto currencies, Bitcoin continued its slide to the $33,000 level.
Stocks erase losses in wild ride, Dow cuts 1,000+ point loss
In a wild session for stocks, volatility kicked up sending the Dow down over 1,000 before curbing all of those losses.
