Markets were unable to build on yesterday’s solid gains, with another ‘crossover shot’ in the retail/consumer discretionary sector hurting confidence and causing the major averages to fall between 3 percent and 6 percent in broad market sales. Concern arose as Target followed
They added that the selling pressure at both companies (each of which experienced their worst one-day declines since the ‘Black Monday’ collapse), had a ripple effect on the market with discount/warehouse, mall, freight and trucker declines on fears of fewer deliveries, as well as record gasoline prices today and restaurants on rising inflationary wages and food costs.
Shares of self-service companies such as
For both indexes it was their biggest loss since
“Stocks finished notably lower on Wednesday, with the Dow falling more than 1,100 points, as markets more than gave up Tuesday’s rally. While the force behind market (inflation) anxiety is not new, investor concerns were heightened by earnings announcements from retail giants Target and
On the other hand, bitcoin is trading at a price of 29 thousand
Oil in negative trend
West Texas Intermediate (WTI) fell 3.69 percent to sell at
There are signs of a reopening in
The price of gold is positioned at
With information from El Financiero.