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The Nasdaq is the first of the three closely watched U.S button cufflinks uk online. stock barometers to fall into bear territory, with the S&P 500 .SPX and the Dow Jones Industrial Average .DJI down about 15 percent from their respective highs. “The Nasdaq is like Icarus. It’s flown too close to the sun, in that it’s had a bigger run-up,” said Kristina Hooper, chief global market strategist at Invesco in New York. “It’s gone up significantly more than the other major indices and that has a lot to do with why it’s fallen the most.”..
Other segments of the market had already moved into bear territory, including the Russell 2000 small-cap benchmark and the Dow Jones Transport Average .DJT button cufflinks uk online. The Nasdaq, however, stands out. “It’s always the raciest and spiciest of the indices because it has all of the growth names in it,” said Michael Antonelli, managing director of institutional sales trading at Robert W. Baird in Milwaukee. “When growth expectations change, like they have radically over the past few months, the first place they’re going to go is to the Nasdaq and absolutely slam it.”..
The latest bout of selling, which on Thursday dragged the Nasdaq to its lowest since September 2017, comes a day after the Federal Reserve raised interest rates for a fourth time this year, as the U.S. central bank continues to unwind the low interest rate policy that supported stocks for nearly a decade. Investors are also grappling with concerns that the trade tensions between the United States and China are undermining the economy, and an expected steep slowdown in U.S button cufflinks uk online. profit growth next year..
At its lowest point on Thursday, the Nasdaq fell about 2.9 percent, resulting in a 20.5 percent decline from its Aug. 29 record closing high. The index ended down 1.6 percent on the day, 19.5 percent off its closing high. The Nasdaq’s slump has been driven by a steep fall in shares of many large tech and internet companies that have led the stock market during its long bull run button cufflinks uk online. Apple Inc (AAPL.O) shares, for example, have fallen nearly 30 percent since the start of November, following the iPhone maker’s disappointing sales forecast for the holiday quarter..
DETROIT (Reuters) – Tesla Inc (TSLA.O) Chief Executive Elon Musk raised hopes again on Thursday that he could ride to the rescue of a threatened General Motors Co (GM.N) car plant at the center of a political storm about auto jobs, and GM replied, saying the Ohio factory’s fate depends on union talks next year. Musk suggested in a Twitter exchange with outgoing Ohio Governor John Kasich that he would consider acquiring GM’s Lordstown small-car factory in Warren, Ohio, which GM has signaled it could close next year. The decision has prompted bipartisan anger in Washington, led by U.S button cufflinks uk online. President Donald Trump..