Stocks are tanking but investors are eyeing CPI report for some stock market relief
- Date: 11-May-2022
- Source: Yahoo News
- Sector:Financial Markets
- Country:Gulf
Stocks are tanking but investors are eyeing CPI report for some stock market relief
Hitting rock bottom usually isn’t something people look forward to. But for investors hungry for relief from the latest market selloff, rock bottom couldn’t come soon enough.
On Tuesday, the Dow Jones Industrial Average, Nasdaq Composite, and S&P 500 touched new 52-week lows. But the S&P 500 closed slightly higher while the Nasdaq gained nearly 1%, or 114 points.
Still, the tech-heavy Nasdaq traded is at its lowest level since November 2020. The Dow, which closed down 0.26%, or 85 points, has had six straight weeks of losses and the S&P 500 and Nasdaq experienced five straight weeks.
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