By Staff Reporters
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MARKETS: Stocks closed down for a second straight week in the US— and sunk deeper into the red for 2022 so far — as investors assess the risks from escalating tensions in Ukraine and a shift in monetary policy by the Federal Reserve.
And, after another day of turbulence, the Dow and the S&P 500 both fell 0.7% (with the Dow ending Friday at 34,079) and the tech-heavy NASDAQ composite declined 1.2%. The NASDAQ has fallen farthest of the three major U.S. stock indexes to date, down 13.4% for the year, while the S&P 500 is off 8.8% and the Dow is down 6.2%.
Specifically, Intel’s shares declined $2.47, or 5.2%, while those of Boeing were off $4.38 (2.1%), combining for a roughly 45-point drag on the Dow. Salesforce.com Inc. Caterpillar and Honeywell International Inc. also contributed significantly to the decline.
STOCKS:
- Shopify, which represented the Covid e-commerce boom, is down 62% from its peak.
- Roblox, which represented the Covid gaming boom, is down 63%.
- Netflix, which represented the Covid streaming boom, is down 43%.
Noteworthy: A $1 move in any of the Dow’s 30 components equates to a 6.59-point swing.
TREASURIES: 10 Year 1.928%
CITE: https://www.r2library.com/Resource/Title/082610254
UKRAINE: Investors watched the latest developments in Ukraine, where Russia has been amassing troops on the border. The tensions are yet another concern for investors as they also try to determine how the economy will react to rising inflation and looming interest rate hikes.
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Filed under: Alerts Sign-Up, Ethics, Investing, LifeStyle | Tagged: Boeing, Caterpillar, DJIA, Federal Reserve, FOMC, Honeywell, inflation, Investing, NASDAQ, Netflix, Roblox, S&P 500, Salesforce, shopify, stock markets, Ukraine | Leave a comment »