All the stock market’s heavy indices fell. The broad S&P 500 index is up 0.9 percent, the Dow Jones industrial average is up 0.8 percent and the Nasdaq composite index is up 1.3 percent.
Technology companies were among the heaviest sinks. For example, Apple lost 1.8 percent, Meta 1.6 percent and Microsoft 1.3 percent.
Retail and other companies dependent on consumption expenditure also suffered, just as they did throughout the year. Amazon fell 2.5 percent and Best Buy 2.9 percent.
The S&P 500 index is making its worst half-year since 1970. Minus about 20 percent so far this year due to investors’ concerns about rising inflation, interest rate hikes and recession. Russia’s war against Ukraine and the covid closures in China also contribute to the shaky journey.
More and more analysts are now heard using the phrase “a perfect storm” to describe the market situation.