Wall St. slumps on rate hike, recession worries
STORY: Wall Street’s main indexes ended the week sharply down as rattled investors continued to reposition themselves amid fears the U.S. Federal Reserve's hawkish rate policy will help tip the American economy into recession.
The Dow fell 1.6%, the S&P shed 1.7%, while the Nasdaq lost 1.8%.
The Dow avoided ending more than 20% lower than its Jan. 4th all-time closing peak, which would have put it in bear market territory.
The S&P and Nasdaq are already in a bear market.
A half dozen central banks, including in the U.S., delivered rate hikes this week to fight inflation, but it was the Fed's signal that it expects high U.S. rates to last through 2023 that caught markets off guard.
Michael Landsberg is chief investment officer at Landsberg Bennett Private Wealth Management.
“I think the scenario now I tell people would be, is, inflation is a little bit of yesterday’s story. You need to be positioning for what’s going to happen with these raises. Are we gonna have a recession – and I think we’re already in a recession. What does that look like for investors? Is to position themselves for where the puck’s gonna be, not where the puck is.”
Oil and gas-related stocks were pummeled by the decline in crude prices, which fell in response to concerns about demand in a recessionary environment and the strong U.S. dollar.
Rate-sensitive technology and growth stocks fell, including Alphabet, Apple and Amazon.
And shares of Costco dropped after the big-box retailer reported a fall in its fourth-quarter profit margins.
相關影片推薦
- 1:18美馬戲團大象逃脫 穿梭車陣民眾驚呼 馬路秒變野生動物園Yahoo奇摩(國際通)32,440 次觀看・1 天前
- 6:11強震來臨這3個縣市最危險 李鴻源曝災防都更因「票房毒藥」難行今天誰來沛269,715 次觀看・1 天前
- 1:53加拿大史上最大黃金盜竊案逮6人 加航「內鬼」偽造空運單 400公斤黃金恐已熔化售出Yahoo奇摩(國際通)37,934 次觀看・1 天前
- 1:13柯建銘質詢一半突喊「我看不到」計時器 透露眼睛病變華視影音8,260 次觀看・1 天前
- 2:02英國女遊台南「喝全糖珍奶」 嚇壞驚呼:天大錯誤華視影音315,352 次觀看・2 天前
- 1:1126歲抗癌網紅因胃癌去世 生命最後5個月沒吃沒喝娛樂星聞60,796 次觀看・3 天前
- 1:15謝和弦不認偷吃陳芳語嗆前妻記錯人!自爆出軌對象是「她」秒遭Keanna打臉娛樂星聞17,171 次觀看・1 天前
- 23:55台積電法說會登場 投資人關心加碼美國新廠風險 但面對拜登和川普搶當美國保護主義隊長 川普幕僚密謀促貶美元 拜登祭301調查要提高中國商品關稅 台積電等於買了保險|鏡轉全球 #鏡鏡新聞1,212 次觀看・1 天前
- 1:17情侶吵架「氣到跳車」 女友摔翻滾5圈慘死|#鏡新聞鏡新聞2,639 次觀看・2 天前
- 1:41土耳其「身障狗狗列車」出動 天天載毛孩外出兜風、感受世界風光Yahoo奇摩(國際通)63,018 次觀看・1 天前