{"id":1364549,"date":"2022-03-08T11:59:26","date_gmt":"2022-03-08T16:59:26","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1364549"},"modified":"2022-03-08T12:01:07","modified_gmt":"2022-03-08T17:01:07","slug":"sp-500-continues-falling-after-worst-day-since-october-2020-nasdaq-falls-further-into-bear-market","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sp-500-continues-falling-after-worst-day-since-october-2020-nasdaq-falls-further-into-bear-market\/","title":{"rendered":"S&#038;P 500 Continues Falling After Worst Day Since October 2020 \u2013 NASDAQ Falls Further Into Bear Market"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">34<\/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-continues-falling-after-worst-day-since-october-2020-nasdaq-falls-further-into-bear-market%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=1364549&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=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107026470\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<div class=\"InlineImage-imageEmbedCaption\">Traders on the floor of the NYSE, March 4, 2022.<\/div>\n<div class=\"InlineImage-imageEmbedCredit\">Source: NYSE<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>The S&#038;P 500 moved lower on Tuesday following the benchmark&#8217;s worst day since October 2020, as investors remained on edge about surging commodity prices and slowing economic growth stemming from Russia&#8217;s invasion of Ukraine.<\/p>\n<p>The S&#038;P 500 traded 0.7% lower, after its largest one-day decline in more than a year on Monday. The Nasdaq Composite slid roughly 0.8%, falling further into bear market territory. The Dow Jones Industrial Average fell about 140 points.<\/p>\n<p>Certain mega-cap technology stocks dragged on the Nasdaq on Tuesday. Netflix lost 1.8%, Microsoft fell more than 2%. Apple and Amazon lost more than 1% each.<\/p>\n<\/div>\n<div class=\"group\">\n<div class=\"ChartSlate-chartSlateContainer\">\n<h3>Loading chart&#8230;<\/h3>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Rising prices for oil, gasoline, natural gas, and precious metals like nickel and palladium are fueling concerns about a slowdown in global growth. Paired with soaring inflation, investors could be facing a risk-off period.<\/p>\n<p>&#8220;The Russia\/Ukraine conflict, commodity price spikes, inflation concerns, and a very uncertain Fed outlook<br \/>have caused recession fears to rapidly intensify and equity markets to sell off sharply,&#8221; said Chris\u00a0Senyek,\u00a0Wolfe\u00a0Research chief investment strategist, in a note.<\/p>\n<p>WTI crude oil jumped about 4% to near $124 a barrel on Tuesday as NBC News reported the U.S. is set to ban Russian oil as soon as Tuesday.<\/p>\n<p>Oil prices spiked to start the week with U.S. crude hitting <a href=\"https:\/\/www.cnbc.com\/2022\/03\/06\/us-crude-oil-jumps-to-125-a-barrel-a-13-year-high-on-possible-western-ban-of-russian-oil.html\">a 13-year high<\/a> of $130.<\/p>\n<p>The international benchmark,\u00a0Brent crude, reached a high of $139.13 at one point overnight Sunday before settling at $123.21 per barrel, its highest since July 2008. Brent most recently was up 3.4% to $127.36.<\/p>\n<p>The jump in crude is already starting to hit consumers&#8217; wallets. <a href=\"https:\/\/www.cnbc.com\/2022\/03\/08\/americans-are-paying-the-most-at-the-pump-on-record-amid-a-surge-in-energy-prices.html\">The national average for a gallon of regular gas<\/a> rose to $4.173 on Tuesday,\u00a0<a href=\"https:\/\/gasprices.aaa.com\/\" target=\"_blank\" rel=\"noopener\">according to AAA<\/a>. The prior record was $4.114 from July 2008, not adjusted for inflation.<\/p>\n<p>Shares of <a href=\"https:\/\/www.cnbc.com\/quotes\/CVX\" target=\"_blank\" rel=\"noopener\">Chevron<\/a> and <a href=\"https:\/\/www.cnbc.com\/quotes\/XOM\" target=\"_blank\" rel=\"noopener\">Exxon<\/a> each rose 2.6% and 2.5%, respectively. Plus, solar and other clean energy stocks moved higher as the continued rise in oil prices shifted focus toward alternative energy sources. <a href=\"https:\/\/www.cnbc.com\/quotes\/ENPH\" target=\"_blank\" rel=\"noopener\">Enphase Energy<\/a> and <a href=\"https:\/\/www.cnbc.com\/quotes\/SPWR\" target=\"_blank\" rel=\"noopener\">SunPower<\/a> added 3.9% and 6.8%, respectively.<\/p>\n<p>Other commodity prices also resumed their push higher. Nickel prices on Tuesday briefly\u00a0<a href=\"https:\/\/www.cnbc.com\/2022\/03\/08\/russia-nickel-trading-suspended-in-london-after-prices-hit-100000.html\">touched a new record<\/a>\u00a0above $100,000 a metric ton.<\/p>\n<p>Futures for palladium, a key metal in the manufacture of electronics, jumped another 5% to $3.04 an ounce, while platinum futures rose nearly 3% to $1,149.70 an ounce.<\/p>\n<p>Treasury yields also were sharply higher, with the benchmark 10-year note up close to 10 basis points to 1.85% as investors shed bonds as inflation fears escalate. Yields move opposite price.<\/p>\n<p>The market action came after a steep sell-off on Wall Street where the S&#038;P 500 dropped nearly 3% for its worst day since October 2020. The blue-chip Dow tumbled almost 800 points for its fifth negative session in six, while the Nasdaq Composite, which contains many of the market&#8217;s biggest tech names, slid 3.6%, falling into bear market territory, down 20% from its record high from November.<\/p>\n<p>The S&#038;P 500 and Dow are both in correction territory.<\/p>\n<p>Investors continued to monitor developments of escalated geopolitical tensions. <a href=\"https:\/\/www.cnbc.com\/2022\/03\/07\/possible-russian-energy-ban-sends-oil-soaring-poland-us-in-jet-talks.html\">Ukraine said Moscow is seeking to manipulate<\/a> its cease-fire arrangement by only allowing Ukrainian civilians to evacuate to Russia and Belarus.<\/p>\n<p>Shell apologized for buying cheap Russian oil and said it was divesting itself of all hydrocarbon holdings in the country. Russia itself warned that crude prices could hit $300 a barrel should Western countries enact a ban on exports. <a href=\"https:\/\/www.cnbc.com\/quotes\/SHEL-GB\" target=\"_blank\" rel=\"noopener\">Shell<\/a> shares popped 3% on Tuesday.<\/p>\n<p>&#8220;There seems to be no evidence of improvements in Ukraine and the rhetoric out of D.C. continues to get more hawkish,&#8221; said Cliff Hodge, chief investment officer at Cornerstone Wealth. &#8220;While it&#8217;s impossible to know where the ultimate bottom may be, from a risk-reward standpoint, the market looks very reasonable.&#8221;<\/p>\n<\/div>\n<\/div>\n<div class=\"WatchLiveRightRail-inline WatchLiveRightRail-container\" id=\"RegularArticle-WatchLiveRightRail-7\" data-test=\"watchLiveRightRail-4\" data-analytics=\"RegularArticle-watchLiveRightRail-7-4\">\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>Traders on the floor of the NYSE, March 4, 2022. Source: NYSE   The S&#038;P 500 moved lower on Tuesday following<\/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-1364549","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\/1364549","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=1364549"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1364549\/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=1364549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1364549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1364549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}