{"id":1332423,"date":"2022-02-23T12:40:26","date_gmt":"2022-02-23T17:40:26","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1332423"},"modified":"2022-02-23T12:52:58","modified_gmt":"2022-02-23T17:52:58","slug":"sp-500-falls-into-correction-territory","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sp-500-falls-into-correction-territory\/","title":{"rendered":"S&#038;P 500 Falls Into Correction Territory"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">12<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsp-500-falls-into-correction-territory%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1332423&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\"><\/div>\n<div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\">\n<div class=\"ArticleBody-articleBody\" id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\">\n<div class=\"group\">\n<p>The S&#038;P 500 moved between gains and losses on Wednesday, a day after falling into correction territory amid escalating tensions between Russia and Ukraine.<\/p>\n<p>The Dow Jones Industrial Average rose about 10 points. The S&#038;P 500 lost about 0.1%, after closing more than 10% from its Jan. 3 record close on Tuesday. The technology-focused Nasdaq Composite was off by about 0.3%.<\/p>\n<p>Some reopening plays like airlines and cruiselines in the red, as well as some technology names. <a href=\"https:\/\/www.cnbc.com\/quotes\/DAL\" target=\"_blank\" rel=\"noopener\">Delta Air Lines<\/a> lost nearly 2% and <a href=\"https:\/\/www.cnbc.com\/quotes\/TSLA\" target=\"_blank\" rel=\"noopener\">Tesla<\/a> was off by 2.5%.<\/p>\n<p>Retailers were a sea of red with <a href=\"https:\/\/www.cnbc.com\/quotes\/M\" target=\"_blank\" rel=\"noopener\">Macy&#8217;s<\/a> down 5% and <a href=\"https:\/\/www.cnbc.com\/quotes\/TJX\" target=\"_blank\" rel=\"noopener\">TJX Companies<\/a> down more than 7%. <a href=\"https:\/\/www.cnbc.com\/quotes\/BBY\" target=\"_blank\" rel=\"noopener\">Best Buy<\/a> lost 3% and <a href=\"https:\/\/www.cnbc.com\/quotes\/JWN\" target=\"_blank\" rel=\"noopener\">Nordstrom<\/a> was down 2%.<\/p>\n<p>Meanwhile, home retailing giant <a href=\"https:\/\/www.cnbc.com\/quotes\/LOW\" target=\"_blank\" rel=\"noopener\">Lowe&#8217;s<\/a> rose more than 4% after beating earnings forecasts and announcing <a href=\"https:\/\/www.cnbc.com\/2022\/02\/23\/lowes-low-q4-2021-earnings.html\">sales rose 5%<\/a>.<\/p>\n<p>The S&#038;P 500 is in the red for the fourth session in a row as investors have been juggling brewing tensions between Russia and Ukraine.<\/p>\n<p>The Ukraine Ministry of Digital Transformation said Wednesday there was another mass DDoS [denial of service] attack on Wednesday that prevented certain entities from accessing government websites, NBC reported.<\/p>\n<p>On Tuesday afternoon President Joe Biden announced a first tranche of sanctions against Russia. The measures target Russian banks, the country&#8217;s sovereign debt and three individuals.<\/p>\n<p>he\u00a0VanEck Russia ETF,\u00a0a U.S.-traded security which invests in top Russian companies, dropped more than 7% on Wednesday.<\/p>\n<p>&#8220;While uncertainties remain, our work shows that historically military\/crisis events tend to inject volatility into markets and often cause a short-term dip, but stocks tend to eventually rebound unless the event pushes the economy into recession,&#8221; Eylem Senyuz, senior global macro strategist at Truist, wrote in a note to clients.<\/p>\n<p>&#8220;Investor sentiment also suggests the bar for positive surprises is low,&#8221; Senyuz added.<\/p>\n<\/div>\n<div class=\"group\">\n<div class=\"RelatedContent-relatedContent\" id=\"RegularArticle-RelatedContent-1\">\n<div class=\"RelatedContent-container\">\n<div class=\"RelatedContent-nonCollapsibleContent\">\n<h2 class=\"RelatedContent-header\">Stock picks and investing trends from CNBC Pro:<\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Investors are also facing concerns about record inflation and the Federal Reserve&#8217;s monetary policy pivot which could result is rate hikes as soon as next month.<\/p>\n<p>Wall Street is betting that there&#8217;s a 100% chance of a rate hike at the Federal Reserve&#8217;s March meeting, according to the <a href=\"https:\/\/www.cmegroup.com\/trading\/interest-rates\/countdown-to-fomc.html\" target=\"_blank\" rel=\"noopener\">CME Group&#8217;s FedWatch tool<\/a>.<\/p>\n<\/div>\n<div class=\"group\">\n<p>O<a href=\"https:\/\/www.cnbc.com\/2022\/02\/21\/stock-market-futures-open-to-close-news.html\">n Tuesday<\/a> the Dow fell more than 480 points. The S&#038;P 500 shed 1.01%, and ended the session 10.25% below its Jan. 3 record close, putting the broad market index in correction territory. The Nasdaq Composite declined 1.23% for its fourth straight negative session.<\/p>\n<p>Earnings season is also coming to a close. As of Friday 78% of S&#038;P 500 companies that have reported have topped earnings estimates, while 78% have exceeded revenue expectations, according to data from FactSet.<\/p>\n<\/div>\n<\/div>\n<div class=\"WatchLiveRightRail-inline WatchLiveRightRail-container\" id=\"RegularArticle-WatchLiveRightRail-6\" data-test=\"watchLiveRightRail-3\" data-analytics=\"RegularArticle-watchLiveRightRail-6-3\">\n<div class=\"WatchLiveRightRail-contents\"><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButton\">WATCH LIVE<img decoding=\"async\" src=\"denied:data:image\/svg+xml;base64,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\" class=\"WatchLiveRightRail-logo\" alt=\"logo\" \/><\/a><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButtonMobile\">WATCH IN THE APP<\/a><\/div>\n<\/div>\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\"><\/div>\n<div class=\"PageBuilder-col-12 PageBuilder-col PageBuilder-article\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The S&#038;P 500 moved between gains and losses on Wednesday, a day after falling into correction territory amid escalating tensions between Russia and Ukraine. The Dow<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1332423","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1332423","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1332423"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1332423\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1332423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1332423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1332423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}