Markets Crushed- Indicies Fall with NASDAQ Falling 5% and DOW Tanking
Works Cited
Pixabay
https://www.cnbc.com/2022/05/04/stock-market-futures-open-to-close-news.html
In what was an amazing rout after a recovery day, stocks fell in major indicies as the NASDAQ tumbled 5%.
Markets reacted positively yesterday as the FED raised interest rates steeply, and the 10-year Treasury yield exceeded 3%. The DOW fell a massive 1,068 points, which is akin to the dumps we saw during the pandemic in 2020.
The S&P 500 is getting dangerously close to resistance, and could tumble to 3,500 if current trends hold. What a time to be actively trading.
It looks like the market came to grips with reality from an outsider's perspective. Dividend stocks and REITs reacted to the news, but we're more resilient that their tech stock cousins. I am waiting to enter the market after what looks like a series of opportunities to catch a falling knife. If I do buy, it will be more dividend producing stocks with long histories of payments and solid REITs.
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