Well, as expected market volatility and momentum continues to rattle investors. I see no end to this in the short term, with a tendency to go lower ahead. In fact the worst selloff in technology shares since fall 2020 sent U.S. equity indexes reeling, halting a four-day rebound. The NASDAQ 100 shed 4.2% and the S&P 500 fell 2.4% as Facebook-owner Meta Platforms Inc. suffered a historic rout that wiped more than $250 billion from its value.
That said the dour mood lifted some in late trading after Amazon.com Inc.’s results sent shares in the online retailer soaring 15%. The third biggest company in the S&P 500, Amazon’s roughly $1.5 trillion market capitalization is more than double Meta’s.
More broadly, “As markets focus closely on large, developed-market monetary policy stances — and investor sentiment around the globe shifts — economic activity data releases will be key.”
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