Nasdaq 100 Micro Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) on Tuesday closed down -1.90%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -1.85%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.61%.
U.S. stock indexes on Tuesday settled sharply lower, with the S&P 500 falling to a 1-month low and the Dow Jones Industrials dropping to a 1-1/2 month low. Stocks sold off Tuesday on pandemic concerns after Moderna’s CEO said that existing Covid vaccines would be less effective against the omicron variant, and it may take months before new and more effective vaccines are developed.
Losses in stocks accelerated Tuesday on hawkish comments from Fed Chair Powell, who said the need for support from asset buying has clearly diminished and "it's appropriate" for the FOMC to talk about accelerating the tapering speed at the next meeting in December from the current level of $15 billion per month.
Tuesday’s U.S. economic data was bearish for stocks. The U.S.... Read more