Top Stocks To Short Today As Investors Anticipate Markets To Drop
- Date: 21-Dec-2020
- Source: Forbes
- Sector:Financial Markets
- Country:Middle East
Top Stocks To Short Today As Investors Anticipate Markets To Drop
getty
Investors did not cheer the passage of the latest stimulus package. On the other hand, there was a bit of a “too little too late” reaction, combined with spooked investors dumping COVID-recovery stocks due to a new strain found in the U.K. that may be more infectious and contagious. After dropping by as much as 600 points in premarket trading, the Dow Jones fell 320 points, or 1.1%. The S&P 500 also shed 1.4% and Nasdaq
NDAQ
fell 1.0%. Travel stocks were predictably the largest laggards of the day thanks to more severe lockdowns and travel restrictions. Norwegian and Royal Caribbean
RCL
each fell more than 6%, Delta Air Lines
DAL
lost 5%, and hospitality companies such as Wynn Resorts
WYNN
fell as well. However, other stocks hit highs today. Nike
NKE
hit an all time high, while financial stocks Goldman Sachs
GS
and JP Morgan each hit a year-and-a-half high and 9-month high, respectively. The market is also experiencing massive volume