May 9, 2022, 10:24am
Even as experts warn that rising risks to economic growth could lead to further downturns, stocks fell on Monday as investors tried to recover from last week's volatile market swings.
The stock market is on track for another bad month.
The S&P 500 lost 2% and the tech-laden Nasdaq was down 2.5%.
The broader market sell-off continued on Monday as stocks struggled to find their footing and added to recent losses after moving lower for the last five weeks in a row.
The yield on the benchmark 10-year Treasury note jumped to 3.185%, its highest level since November.
The shares of Meta, Amazon, Apple, and Apple parent company all fell by 2% or more, as surging government bond yields dragged down shares of Big Tech companies.
CNBC reported over the weekend that Ford plans to sell 8 million of its shares in Rivian.
Markets are expected to remain volatile and continue to increase, as we can't discount sharp bear market rallies.
The post-FOMC hangover has continued through the weekend, with higher interest rates, higher inflation, and higher tensions still the main factors affecting the equity market and fixed income.
The price of cryptocurrencies fell by 4.5% to around $33,000, according to Coin Metrics, which is down from $40,000 last Wednesday.
All three major stock market indexes have fallen for the last five weeks in a row due to concerns about a slowdown in economic growth and more market downturns ahead. The selloff last Thursday was the market's worst day since 2020 and erased gains from a day earlier when stocks rallied on the back of a widely expected half-percentage-point rate increase from the Federal Reserve. The broader market selloff has been driven by a decline in tech stocks, with nervous investors continuing to dump shares and turn to safe-haven assets.
The stock market has fallen for the fifth straight week.
The stock market took a big hit as the post-Fed rally faded.
After the Federal Reserve Hikes Interest Rates, the DOW jumps 900 points.
The markets are higher, but experts don't like it.
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