Nasdaq tanks over 4 pct amid wide sell-off
Xinhua
25 Jan 2022, 05:18 GMT+10
The Dow Jones Industrial Average index dropped 3.25 percent or 1,115.04 points, the S&P 500 shed 3.99 percent or 175.32 points, and the Nasdaq dived 4.9 percent or 674.27 points at the height of the rout, respectively.
NEW YORK, Jan. 24 (Xinhua) -- The tech-heavy Nasdaq Index lost as much as 4.9 percent around noon on Monday at the height of sell-off in U.S. stock markets.
Deep losses in European stock markets and worse-than-expected economic indicators worsened market sentiment.
The Federal Reserve is scheduled to hold its monetary policy meeting from Tuesday to Wednesday with wide expectation of hawkish signals.
Both Chicago Fed National Activity Index for December 2021 and IHS Markit Flash U.S. Composite PMI for January 2022 saw material deterioration from the previous month.
In particular, U.S. preliminary composite output index fell to 50.8 in January, the lowest level since July 2020, as the Omicron wave exacerbates supply delays and labor shortages.
The Dow Jones Industrial Average index dropped 3.25 percent or 1,115.04 points, the S&P 500 shed 3.99 percent or 175.32 points, and the Nasdaq dived 4.9 percent or 674.27 points at the height of the rout, respectively.
All of the 11 sectors under the S&P 500 Index posted material losses with the technology sector down over 5 percent for some time.
Subscribe and Follow
Get a daily dose of Haiti Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
News RELEASES
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Haiti Sun.
More Information
24
℃
US war crimes unit investigates Russian actions in Ukraine
WASHINGTON D.C.: The U.S. State Department has announced the launch of a new program to capture and analyze evidence of ...
Popularity of Indonesian president sinks due to price rises
JAKARTA, Indonesia: A new poll released this week indicated that Indonesian President Joko Widodo's approval rating has hit a six-year ...
Tourist bus in Indonesia strikes billboard, 14 dead
EAST JAVA, Indonesia: A tourist bus crashed into a billboard on a highway on Indonesia's main island of Java this ...
Schools, restaurants in Belgrade evacuated following bomb threats
BELGRADE, Serbia: Belgrade was paralyzed this week by a series of bomb threats, including against schools, bridges, restaurants and a ...
Jeff Bezos tells Biden that inflation most hurts poor
WASHINGTON D.C.: In a tweet this week, Amazon founder Jeff Bezos criticized President Joe Biden for the second time in ...
As food prices rise, Iranians take to the streets to protest
TEHRAN, Iran: According to social media posts, protests that began last week across Iran over a reduction in state subsidies ...
Face masks return for workers at some Michigan auto factories
Detroit, Michigan: General Motors, Ford and Chrysler parent Stellantis NV said they are reinstating the face mask mandate for employees ...
South Korea president pledges aid to North in treating Covid outbreak
SEOUL, South Korea: As North Korea grapples with a severe COVID-19 outbreak, South Korean President Yoon Suk-yeol has said that ...
Asian stocks mostly plummet, as sellers take charge
SYDNEY, NSW, Australia - Stocks in Asia mostly sank on Thursday, following on from a rout on Wall Street overnight."There ...
REE Automotive to build commercial EV chassis plant in UK
LONDON, England: Israeli startup REE Automotive has announced that it will build an assembly plant for electric vehicles (EVs) in ...
China prepares to deliver its version or Boeing, Airbus aircraft
BEIJING, China: The Commercial Aircraft Corp of China (Comac) completed a three-hour pre-delivery test flight of China's C919 aircraft at ...
U.S. stocks shatter, Dow Jones industrials drop more than 1,000 points
NEW YORK, New York - Soaring prices have taken their toll on U.S. retailer Target which reported first-quarter profit had ...
