Stock Market Slides After Mixed Bank Earnings, Meta Downgrade … – Investor’s Business Daily
Stock market indexes slid lower Monday and were near session lows in the last hour. Bank earnings showed mixed results. State Street Bank (STT) led the downside, plunging more than 12%.
The Dow Jones Industrial Average was relatively unchanged. The Nasdaq lost 0.3% while the S&P 500 shed 0.2%. The iShares Russell 2000 ETF (IWM) rose nearly 0.6%.
NYSE volume was slightly higher and Nasdaq volume dipped compared with the same time on Friday.
The Nasdaq 100-tracking Invesco QQQ Trust ETF (QQQ) retreated 0.6%. The Innovator IBD 50 ETF (FFTY) highlighted outperforming growth stocks, up 1.5%.
Crude oil fell 1.8% to $80.98 per barrel. Gold futures trimmed 0.7% to $2,002 per ounce. The SPDR Gold Trust ETF (GLD) slid 0.8% along with the yellow metal.
Bitcoin sold off 3.5% to $29,400, trading under the psychological $30,000 level. Cryptocurrency exchange Coinbase (COIN) slid 5.3%.
The 10-year U.S. Treasury yield added 7 basis points to 3.60%. The CME FedWatch tool shows over 80% odds for…
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source: https://news.oneseocompany.com/2023/04/17/stock-market-slides-after-mixed-bank-earnings-meta-downgrade-investors-business-daily_2023041743669.html
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