Below is a synopsis of this investment report:
Tech stocks, retailers, energy, financials – all sectors in the S&P 500 took a hit on Monday. Following is a quick wrap-up on the day:
- Facebook led technology stocks lower as it came under scrutiny for reports of a data breach and increased speculation of regulatory response.
- Interest rate worries: The Fed is widely expected to raise interest rates a quarter of a percentage point later this week. Wall Street fears that the Fed and its new chairman, Jerome Powell, could signal that they now see four rate increases this year, versus the three increases signaled back in December.
- Trade war fears: The possibility of a trade war with China, beyond the import taxes on steel and aluminum, has increased market concerns on fears of retaliation from our trading partners.
All of this certainly amounts to a lot of noise, which has translated into increased volatility in the marketplace.
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