Wall Street’s latest trading session seems to have put the stocks back into the early 2022 situation. The stock market is moving into negative territory yet again.
Finally, after a long winter in the stock market, the summer stock trading sessions started witnessing a rally. However, the rally has ended in the recent trading session and major averages that had once led the market have turned sour.
Performance of Stock Exchanges on Friday
The stock market data from the recent (Friday) trading session has witnessed many stock exchanges experiencing negatives.
The report shows that the Dow Jones Industrial Average experienced a 0.86% dip in the Friday trading session. It has reportedly lost 292.30 points in the latest trading session and it is now at 33,706.74 points.
Then comes the S&P 500 exchange which has recorded a 1.29% dip in the Friday trading session. It has moved down to 4,228.48 points.
Then there is the NASDAQ Composite which has also recorded a downward movement. In the Friday trading session, the NASDAQ Composite slid by 2.01%.
After slipping, the NASDAQ Composite has dropped to 12,705.22 points.
For the week, the Dow Jones Industrial Average has dipped by 0.16%. The S&P 500 has reportedly edged lower by 1.21% while the NASDAQ Composite has recorded a 2.62% dip in the past week.
The reason behind the Stock Market Dip
The summer rally or the stock exchange market ended as the Federal Reserve shared the meeting minutes for the July meeting.
The July meeting minutes revealed that the Federal Reserve had decided that despite the recent promising data for the NFP and CPI, interest rates would be hiked.
This resulted in causing a huge problem for the entire investment community. The investors went on a back foot, which caused a dip in the latest stock market trading session in the United States.
As of now, the investors are hoping that the stock market bounces back before they make the decision of investing in the market. Now, the stock market situation needs to improve before the investors start walking in to invest in the stock markets.
Worst Performer in the Running Week
In the latest trading week, the worst performer has proven to be Bed Bath & Beyond (BBBY).
The largest stakeholder in Bed Bath & Beyond, Ryan Cohen announced at the beginning of the same week he was planning to sell his stake in the home-retail company.
It was announced on Thursday that he had already sold his entire stake in the company as confirmed by his venture firm, RC Ventures.
Following the announcement, the share prices for Bed Bath & Beyond fell by 40%.