Stocks are cratering - here are 7 headlines you need to know right now
Advertisement
Stocks are cratering.
Advertisement
US stocks opened lower to start the week extending Friday's sell-off.
Around 11:09 a.m. ET, the three major indexes were down more than 2%, with the Dow down 364 points, the S&P 500 off 43, and the Nasdaq down 124.
And that's just the beginning.
In the last few trading hours, a bunch of huge economic and business headlines have come out, so we put them all together to make sure you didn't miss a thing:
Advertisement
- The so-called FANGs (Facebook, Amazon, Netflix, and Google) are getting slammed, which is notable as they were the best-performing tech stocks in 2015.
- This follows last Friday's sell-off across the tech sector as LinkedIn plunged 44% after weak earnings and Tableau Software lost about half its value.
- Greece is getting slammed. The benchmark ASE Index fell 7.9% on Monday and Greek bank stocks lost 24.3%. This was the ASE's lowest close since 1990. Greek bonds are getting crushed too.
- Chesapeake shares dropped more than 50% on Monday morning, and have been halted at least four times for volatility after reports the company had hired restructuring lawyers. In a statement on Monday morning the company said it currently has "no plans" to pursue bankruptcy.
- Gold jumped $36 an ounce, or about 3.13%, to at least three-month highs near $1,199.
- Deutsche Bank's Joe LaVorgna thinks that March is off the table for an interest rate hike from the Federal Reserve after a recent run of disappointing economic data and stock market volatility.
- Crude oil is also lower, with WTI falling 3% to move back below $30 per barrel.
Advertisement
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- 2 states where home prices are falling because there are too many houses and not enough buyers
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- BSE shares tank nearly 19% after Sebi directive on regulatory fee
- Nainital bucket list: 9 experiences you can't miss in 2024
- Sanju Samson likely to be India's first-choice wicketkeeper for T20 World Cup
- India Inc marks slowest quarterly revenue growth in January-March 2024: Crisil
- Nothing Phone (2a) India-exclusive Blue Edition launched starting at ₹19,999