Markets Extend Rough Start to 2022

Markets Extend Rough Start to 2022

(MENAFN- Baystreet. ca) Markets Extend Rough Start to 2022 Advertisment U. S. stocks fell Monday morning, extending a rocky start to 2022 for equity markets as interest rates rise. The Dow Jones Industrials wilted 424. 8 points, or 1. 2%, to 35, 806. 86. The S&P 500 fell 81. 63 points, or 1. 7%, to 4, 595. 40. The NASDAQ docked 346. 33 points, or 2. 3%, at 14, 587. 45. The NASDAQ is now down more than 6% for the year and is roughly 10% below its intraday record high from November. The S&P 500 and NASDAQ are coming off four straight days of losses, while the Dow has retreated in three consecutive sessions. Large tech stocks were under pressure in early trading, with shares of Facebook-parent Meta down 3% and Amazon and Alphabet retreating 2%. Shares of video game publisher Take-Two fell more than 11% after the company announced a deal to purchase Zynga. On Sunday, Goldman Sachs projected the Federal Reserve to hike rates four times in 2022, signaling that Wall Street increasingly expects the central bank to get aggressive in an attempt to curb inflation. Earnings season also kicks off this week. The S&P 500 is