On a scary day on Wall Street dow stock market, the stocks ended the day with a dramatic change just before the closing bell. The stocks start the day with an amazing selloff.
US shares are in the red as investors worry about the Federal Reserve’s plans to raise interest rates, tensions in Ukraine, the wage season and – of course – inflation.
At the bottom of the session, the market was on track for its worst day since October 2020, with Dow down by more than 1,000 points.
But with just a few minutes to go before the trading session, the big indicators backed out and became green. Dow finished 0.3%, or 99 points, above.
What is happening to the world to change things? The selloff may have just passed a bit.
“Investors are likely to be more optimistic about growth,” Oanda market analyst Edward Moya said this afternoon.
The S&P 500 (SPX), the broadest US budget market, also ended at 0.3%. During the session, the indicator was on its way to a correction. But it was not intended to be so, at least not on Monday: Last week, it entered its worst week since March 2020.
Nasdaq Composite (COMP), which entered the repair area last week, closed 0.6%.
The uncontrolled fluctuations of the day were also reflected in the CBOE Volatility Index (VIX), or Vix, which rose during the day but ended the session “only” by 3.2% higher.
CNN’s Fear & Greed Index is still raging on Monday afternoon, but the level has been much worse than Friday.
Every day for the past week, stocks have deteriorated sharply during the last trading hour, which is often a bad sign the next day, said TD Ameritrade market chief strategist JJ Kinahan.
“After a difficult start in stocks in 2022, investors are looking for reasons to expect a return,” said Jeff Buchbinder, LPL Financial equity strategist, in an email.
“After doubling the decline in the epidemic in March 2020, without receiving a 5% reversal by 2021, stocks may need a break,” he added. “That, however, does not make this dip very comfortable.”
Check Dow Jones market details