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By Staff Reporters
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US. stocks extended this week’s downtrend to close a choppy session with losses as the prospect of sustained higher rates and slowing growth continued to plague investor sentiment. And, Carvana’s stock tanked after its biggest creditors made a deal to work together, pushing the online car reseller’s shares down so low that its CEO has lost 98% of his wealth this year (which is second only to Sam Bankman-Fried’s percentage loss).
The S&P 500 (^GSPC) slumped 0.2%, ending a fifth straight day lower, while the Dow Jones Industrial Average (^DJI) capped trading at the flatline. The technology-heavy Nasdaq Composite (^IXIC) declined 0.5%.
In commodities markets, oil extended losses to close around $72 per barrel after a decline of roughly 10% this week to the lowest level since January.
CITE: https://www.r2library.com/Resource/Title/082610254
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Filed under: Alerts Sign-Up, Glossary Terms, Investing | Tagged: malaise, stock market, stock market malaise |
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