Wall Street's selloff continued for another day, as investors aggressively rotate out of risk-on names. The Dow suffered its fourth-straight triple-digit drop, giving back almost 500 points today, while the S&P 500 is mired in a four-day skid of its own.
The tech-heavy Nasdaq also fell triple digits, marking its fifth loss in six sessions, though all three major indexes did finish well off their session lows. Each of the Magnificent 7 stocks finished the day in the red, as investors brace for a potentially volatile Nvidia (NVDA) earnings report after the close tomorrow.
Continue reading for more on today's market, including:
- Brutal double downgrade for Honeywell stock.
- Add these markers to four struggling stocks.
- Plus, two earnings reports to unpack; and a closer look at the struggling crypto sector.
Oil Pops As Gold Continues to Lag
Oil prices saw green today thanks to persistent supply concerns. December-dated West Texas Intermediate (WTI) crude added 83 cents, or 1.4%, to settle at $59.91 per barrel.
Gold prices buckled again today, as Fed fatigue keeps a lid on the safe-haven asset. December-dated gold futures lost 0.2% to settle at $4,061.30 per ounce.