Published 2 years ago

Dow drops 1,100 points for its biggest decline since 2020 as the sell-off this year on Wall Street intensifies

Summary by Ground News

Investors are calling for a three-quarter-point rate hike at the conclusion of the Fed's June meeting. The Dow shed more than 1164 points, or 3.6%, its biggest loss since 2020. The broader market lost 4%, putting the S&P 500 on the precipice of bear market territory. The Fed could hike rates to 5% by the time it ends the current bout of tightening.

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The Independent

Dow sinks 1,100 points in worst day since 2020 amid fears over inflation

Drop in the Dow Jones Industrial Average is the worst single-day performance since March 2020

2 years ago·London, United Kingdom

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Reuters

Wall Street ends sharply lower as Target and growth stocks sink

Wall Street ended sharply lower on Wednesday, with Target losing around a quarter of its stock market value and highlighting worries about the U.S. economy after the retailer became the latest victim of surging prices.

2 years ago·United Kingdom

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Associated Press News

Stocks fall sharply as Target's woes renew inflation fears

NEW YORK (AP) — Stocks closed sharply lower on Wall Street Wednesday as dismal results from Target renewed fears that inflation is battering U.S. companies. The S&P 500, the benchmark for many index funds, fell 4%.

2 years ago·United States

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abc News

Asian shares track Wall Street's inflation-fueled retreat

Shares are sharply lower in Asia after a broad retreat on Wall Street

2 years ago·United States

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CNN

Dow tumbles 1,160 points in worst trading day since June 2020 | CNN Business

The old joke goes like this: Two friends are at a resort and one says, "The food here is really terrible." The other replies, "And the portions are so small!" Today, it's investors who dislike the taste of the Federal Reserve's interest rate hikes — but seemingly want more anyway.

2 years ago·Atlanta, United States

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The Star Kuala Lumpur

Dow sinks over 1,100 points in worst day since 2020

NEW YORK, May 18 (Xinhua) -- U.S. stocks plummeted on Wednesday as weak earnings from major retailers stoked concerns about the impact of inflation. Read full story

2 years ago·Malaysia

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