FYI: Technology and other fast-growing stocks tumbled Friday, extending a painful stock market rout that threatens to pull the Nasdaq Composite Index into bear-market territory.
A bevy of concerns, from the Federal Reserve’s pace of interest rate increases to the health of the U.S. economy and a looming government shutdown, continued to hang over the stock market, leading investors to pare back their riskier investments in an effort to preserve their capital.
Roughly $35 billion was pulled from equity funds in the week ended Dec. 19, according to data provider Lipper, helping to put the Dow Jones Industrial Average and the S&P 500 on pace for one of their worst weeks since March. The Nasdaq is on track to suffer its biggest weekly drawdown since 2016.
Friday’s losses shaved another 2.9% off the tech-heavy Nasdaq Composite, putting it on pace to close in bear-market territory, which is defined as a drawdown of 20% or more from a recent high, for the first time since the wake of the financial crisis.
The Dow industrials and the S&P 500 were also trading lower, but remained shy of entering their own bear markets. The Dow fell 415 points, or 1.8%, to 22,444 in recent trading, while the S&P 500 slid 2.0%.
All eleven of the S&P 500 Sectors finished in the red.
Regards,
Ted
WSJ:
https://www.wsj.com/articles/global-stock-slide-extends-to-asia-as-growth-fears-mount-11545372995Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2018-12-21/your-evening-briefingBloomberg:
https://www.bloomberg.com/news/articles/2018-12-20/asian-stocks-face-mixed-start-after-u-s-slide-markets-wrap?srnd=premiumMarketWatch:
https://www.marketwatch.com/story/us-stocks-poised-to-drop-as-shutdown-concerns-add-to-investors-worries-2018-12-21/printIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-plunges/Reuters:
https://www.reuters.com/article/us-usa-stocks/sp-and-dow-gain-while-nasdaq-falls-in-volatile-session-idUSKCN1OK1K7CNBC:
https://www.cnbc.com/2018/12/21/us-stocks-set-for-lower-week-after-fed-decision-government-shutdown-fears.htmlU.K.:
https://www.marketwatch.com/story/ftse-100-hovers-near-flat-line-after-bruising-week-2018-12-21/printEurope:
https://www.cnbc.com/2018/12/21/european-stocks-fragile-market-mood-as-oil-prices-stabilize-after-losses.htmlAsia:
https://www.marketwatch.com/story/asian-markets-continue-to-fall-on-recession-and-trade-war-fears-2018-12-20/printBonds:
https://www.cnbc.com/2018/12/21/bonds-us-treasury-yields-continue-climb-ahead-of-auctions.htmlCurrencies:
https://www.cnbc.com/2018/12/21/forex-markets-dollar-japanese-yen-in-focus.htmlOil:
https://www.cnbc.com/2018/12/21/oil-markets-opec-output-cuts-in-focus.htmlGold
https://www.cnbc.com/2018/12/20/gold-markets-the-fed-dollar-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx
