The downgrade sent the benchmark S&P 500 as much as 1pc lower in early trading, while the tech-heavy Nasdaq Composite sank more than 1.4pc.
This led to the likes of Tesla and Apple falling by 4.8pc and 3.3pc, respectively, although they later trimmed the scale of their losses.
Might it be that it was falls in Apple and Tesla which reduced the indices?
And that’s from the Terriblegraph’s economics editor. What a rag it is. No wonder the Arabs can’t sell it.
Not much cop, is she?
The teenage scribblers are older but no wiser.
Before the current Orange Reign of Terror such variations would be dismissed as the usual business of markets
In fact for over a year Those That Know have been opining that the US market, especially the S&P 500 were hopeless overvalued and concentrated on the tech sector and a correction was overdue
Now that correction has occurred (it’s arguable whether the Trump Tariff Tantrum was the catalyst or a handy excuse) it is the End of Days and completely unprecedented, unpredictable etc
Proving that noone ‘knows’ anything about anything and sensible investors take a long view and ride the incremental climb of the stock market over 5 years or more
Looking at my investments on a 3 month view lee alone and annual one the recent ‘catastrophe’ barely figures
The S&P 500 closed flat (+0.09%), so did the Nasdaq (+0.02%). There was some rotation out of the tech mega-caps, Tesla was -2.25% and Apple -1.17%; neither of these results is abnormal.
Scare-mongering about intra-day lows (or highs) is just filling in column inches; the vast majority of transactions happen in the last 30 minutes of the session, and the close is what matters unless you’re day-trading.
It’s “wet pavements cause rain” level of analsys.
Well said jgh