All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. ![]() Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. ![]() Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account – CNN’s Nicole Goodkind and Matt Egan contributed to this report Meta, which is still down nearly 65% for the year, saw a tick after JPMorgan upgraded shares of the company to neutral from overweight. (ADBE) shares soared after the company reported better-than-expected quarterly earnings and guidance. (ADBE) and Facebook parent company Meta are the markets largest gainers today, up 3% and 2.8%, respectively. But bad economic news is also bad for investors – and everyone – because it raises the risk of a recession. Good economic news has been bad news for investors, because the Fed is trying to cool down the economy as part of its inflation-fighting campaign. ![]() Many traders are on vacation, volume is low and tiny moves can get exacerbated.Īs my colleague Matt Egan notes, the market may be in a lose-lose situation. “This leaves little room for anything to go wrong,” Moody’s economist Matt Colyar wrote in an analysis. Weak manufacturing and retail reports spooked Moody’s analysts, who also lowered their 2023 GDP forecast to just 0.9%, much lower than 2022’s 1.9% estimate. Now, economists at Moody’s Analytics predict America’s economy will grow at an annualized rate of just 1.9% in the fourth quarter, down from its previous estimate of 2.7%. The S&P 500 lost 2.5% and the Nasdaq tumbled 3.2%, their worst days in a month. The Dow lost 765 points Thursday, or 2.3%, the index’s worst day in three months. That excitement continued right up until Fed Chair Jerome Powell crashed Wall Street’s party Wednesday with some tough news: Economists at the Fed believe US gross domestic product, the broadest measure of America’s economy, will barely grow next year.Īnd they predict the US unemployment rate will rise to 4.6% by the end of 2023, which means roughly 1.6 million more Americans will be out of work.Ĭompounding fears from those Fed forecasts was a worse-than-expected retail sales report Thursday that sent stocks plunging. Investors were hopeful that the Federal Reserve could slow its historic pace of rate hikes and inflation could right itself sometime next year without tipping the economy into a recession. Stocks had been riding high this month on weaker-than-expected inflation and a number of stronger-than-expected reports on the broad economy and the job market. The market has been in “Greed” mode for weeks. ET Wednesday.ĬNN Business’ Fear and Greed Index, a measure of market sentiment, finally dipped into “Fear” Friday. Is the Fed to blame? Sentiment on Wall Street can change on a dime, and this week is evidence of that: The Dow has tumbled about 1,050 points just since the Federal Reserve’s dour policy update at 2 p.m. The sell-off has been broad, but the real estate and consumer discretionary sectors were been hit the hardest, down more than 3% and 1.8%, respectively. The S&P 500 fell 1.1%, and the Nasdaq Composite was 1% lower. The Dow ended the day down 282 points, or 0.9%. This game includes optional in-game purchases of virtual currency that can be used to acquire virtual in-game items, including a random selection of virtual in-game items.The good vibes on Wall Street are fading fast: US slid tumbled yet again on Friday as investors come to grips with a souring economy. ![]() Apex Legends - The Next Evolution of Hero Shooter - Free to PlayĪbout Apex Legends Legends Maps Lore Hub FAQ PC Requirements Credits Accessibility Battle Royale Team Deathmatch Control Gun Run Season Battle Pass Latest News Game Updates Latest Media Sign up for News Twitter Instagram Facebook Youtube Twitch Forums Cosplay Guides Compete Community Guidelines About Apex Legends Legends Maps Lore Hub FAQ PC Requirements Credits Accessibility Battle Royale Team Deathmatch Control Gun Run Season Battle Pass Latest News Game Updates Latest Media Sign up for News Twitter Instagram Facebook Youtube Twitch Forums Cosplay Guides Compete Community Guidelines
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