China News Agency, New York, January 21 (Reporter Wang Fan) The three major U.S. stock market indexes closed down for four consecutive days.
As of the close on the 21st, the S&P 500 stock index and the Nasdaq composite index both recorded their biggest weekly declines since March 2020.
U.S. stocks have only four trading days this week due to the Martin Luther King Day holiday.
After four consecutive Yin days, the Dow Jones Industrial Average fell 1,646.44 points, or 4.58%, to 34,265.37 points this week; the Nasdaq fell 1,124.83 points, or 7.55%, to 13,768.92; the S&P 500 fell 264.91 points, or 5.68 %, reported 4397.94 points.
The Wall Street Journal said that the three major U.S. stock indexes all fell by more than 4.5% this week. Among them, the S&P 500 and the Nasdaq recorded their worst weekly performance since the outbreak of the new crown pneumonia.
Market analysts believe that investors' concerns about the adverse impact of future interest rate hikes by the Federal Reserve are the main reason for the recent volatility in US stocks.
The tech-heavy Nasdaq, which was confirmed to have entered correction territory earlier this week, has fallen more than 10 percent from its all-time high.
In fact, U.S. stocks have been sluggish since entering 2022.
Over the past 13 trading days, U.S. stocks have fallen in more than half of the trading days.
From a weekly perspective, the three major indexes have closed down for the past three consecutive weeks.
In terms of individual stocks, growth stocks represented by technology stocks were the most affected.
"Rising rates and falling profits are a poor combination for credit and equity markets," a team led by Bank of America chief investment strategist Michael Hartnett said in a note Friday. The team of strategists believe that investment returns in both asset classes will be negative in 2022.
However, some institutions take a different view.
Nadia Lovell, senior strategist for U.S. stock investment at UBS Global Wealth Management, said that the S&P 500 has fallen by about 7% from its all-time high, and the market is approaching the oversold area, and she is ready Good bargain buying.
On the 21st, among the major US technology stocks that have received much attention, the e-commerce giant Amazon fell 5.95%, the streaming media platform Netflix fell 21.79%, Google fell 2.22%, and Apple fell 1.28%.