Nasdaq on track for correction, falls 10% below record closing high – Reuters
- Date: 20-Jan-2022
- Source: Reuters
- Sector:Financial Markets
- Country:Middle East
Nasdaq on track for correction, falls 10% below record closing high – Reuters
Jan 19 (Reuters) - The S&P 500 and Nasdaq edged higher in a choppy trading session on Wednesday after quarterly results from a diverse set of companies, while tech stocks stabilized and U.S. Treasury yields pulled back from milestones.
The tech-heavy Nasdaq recovered after earlier in the session moving more than 10% below its record closing high on Nov. 19. A correction is confirmed when an index closes 10% or more below its record closing level. The Dow was logging a slim loss.
Results from Morgan Stanley (MS.N) and Bank of America (BAC.N) were well received by investors as were reports from UnitedHealth (UNH.N) and Procter & Gamble (PG.N) as fourth-quarter earnings season picks up.