S&P 500 falls again as bears push stocks toward another losing week


S&P 500 falls again as bears push stocks toward another losing week | Invezz

Ad disclosure

Invezz is an independent platform with the goal of helping users achieve financial freedom. In order to fund our work, we partner with advertisers who compensate us for users that Invezz refers to their services. While our reviews and assessments of each product on the site are independent and unbiased, brands may pay to appear higher up our table rankings or place ads in specific areas of the site. The order in which products and services appear on Invezz does not represent an endorsement from us, and please be aware that there may be other platforms available to you than the products and services that appear on our website. Read more about how we make money >


Benson Toti

May 19, 2022

S&P 500 fell 0.6% as the Dow and Nasdaq also closed lower amid a late sell-off.

The Dow could close in red for an eighth week in a row amid inflation and rate hike jitters.

The US Federal Reserve has signalled for a potential 50 basis point rate hike in June.

US stocks continued to sell off on Thursday as a volatile trading day ended with the major indexes down again.

After closing lower by 4% on Wednesday, the S&P 500 gave up late gains to close 0.6% down to 3,900.74. With the losses, the benchmark index is now more than 18% off its January peak. The bear territory beckons as analysts forecast the bottom is not yet in, with the index headed for a seventh losing week.

Are you looking for fast-news, hot-tips and market analysis?

Sign-up for the Invezz newsletter, today.

The declines in the equities market follow relentless selling that has gained fresh legs this week after the US Federal Reserve Chair Jerome Powell signaled the possibility of a further two 50 basis point rate hikes.

In an interview with CNBC earlier on Thursday, Kansas City Fed President Esther George said:

I am very comfortable with doing 50 basis points because I see the combination of that balance sheet runoff taking place. So I think moving deliberately and making sure we stay on course is the focus of my attention.

The Dow Jones Industrial Average also declined in Thursday’s trading, closing 236.94 points lower for a -0.75% return on the day. The Dow ended the day at 31,253.13, with the losses coming hot on the heels of a brutal 1,100+ points beating on Wednesday.

The Nasdaq Composite fell 0.26% to close at 11,388.50, adding to its continued struggle in the bear territory.

The overall losses put the Dow on course for an eighth losing week, while Nasdaq’s will stretch to a seventh straight week.

Invest in crypto, stocks, ETFs & more in minutes with our preferred broker,


68% of retail CFD accounts lose money

Visit site

Stocks & Shares

Generated by Feedzy