Some of the big winners over the last month became big losers in trading today. Looking at the infograph below
- Qualcomm tumbled -11.66% but is still up 59.88% for the month.
- Intel fell -6.81% but is still up 85.06% and
- SanDisk is down -5.56% but is still up 53.45%.
So for some, this is just a modest correction in what has been a runaway train.
The major indices closed mix with the Dow
- Dow industrial average rising by 0.11%,
- S&P index falling by a modest -16% and the
- Nasdaq index falling -0.71%.
Overall the indices were well off of their lowest levels for the day at the close.
- The NASDAQ index traded down as much as -534.90 points.
- The S&P traded down -74.31 points while the
- Dow industrial average was down close to -400 points at session lows.
In addition to the implications from sharply higher oil prices, higher yields, and the overbought condition and some stocks, the mortgage or influenced by the negativity from the lack of progress on the Iranian war.
Pres. Trump and company are off to China where hopefully new problems are not uncovered. –
This article was written by Greg Michalowski at investinglive.com.
