{"id":4703,"date":"2022-09-17T11:00:00","date_gmt":"2022-09-17T05:30:00","guid":{"rendered":"https:\/\/appreciatewealth.com\/blog\/?p=2018"},"modified":"2024-04-17T12:40:34","modified_gmt":"2024-04-17T07:10:34","slug":"stock-market-suffers-massive-sell-off","status":"publish","type":"rearview_mirror","link":"https:\/\/appreciatewealth.com\/blog\/rearview-mirror\/stock-market-suffers-massive-sell-off","title":{"rendered":"Stock market suffers massive sell-off"},"content":{"rendered":"\n<p>10th September \u2013 16th September 2022 | Another week in the markets<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table><tbody><tr><td><strong>S&amp;P 500<\/strong><\/td><td><strong>Nasdaq<\/strong><\/td><td><strong>VIX<\/strong><\/td><td><strong>DJIA<\/strong><\/td><td><strong>Russell 1000<\/strong><\/td><td><strong>NYSE<\/strong><\/td><\/tr><tr><td><strong>3,873.33<\/strong><\/td><td><strong>11,448.40<\/strong><\/td><td><strong>26.30<\/strong><\/td><td><strong>30,822.42<\/strong><\/td><td><strong>2,132.17<\/strong><\/td><td><strong>14,573.91<\/strong><\/td><\/tr><tr><td><strong>-4.77%<\/strong><\/td><td><strong>-5.48%<\/strong><\/td><td><strong>15.40%<\/strong><\/td><td><strong>-4.13%<\/strong><\/td><td><strong>-4.83%<\/strong><\/td><td><strong>-4.06%<\/strong><\/td><\/tr><tr><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><\/tr><tr><td><strong>Nifty 50<\/strong><\/td><td><strong>Gold<\/strong><\/td><td><strong>Silver<\/strong><\/td><td><strong>Brent crude<\/strong><\/td><td><strong>USD-INR<\/strong><\/td><td><strong>EUR-INR<\/strong><\/td><\/tr><tr><td><strong>17,530.85<\/strong><\/td><td><strong>$1,684.50<\/strong><\/td><td><strong>$19.61<\/strong><\/td><td><strong>$91.57<\/strong><\/td><td><strong>79.70<\/strong><\/td><td><strong>79.82<\/strong><\/td><\/tr><tr><td><strong>-1.70%<\/strong><\/td><td><strong>-2.49%<\/strong><\/td><td><strong>4.42%<\/strong><\/td><td><strong>-0.92%<\/strong><\/td><td><strong>0.03%<\/strong><\/td><td><strong>-0.27%<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Source: <a href=\"https:\/\/www.marketwatch.com\/\" rel=\"nofollow\">MarketWatch<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Hello Saturday,<\/strong><\/h2>\n\n\n\n<p>This week the US stock market suffers a massive sell-off, inflation continues to surge, and warnings of a global recession increase.&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>August\u2019s inflation data shows higher-than-expected inflation levels<\/li>\n\n\n\n<li>FedEx to reduce operations and cut costs as global demand declines&nbsp;<\/li>\n\n\n\n<li>US sees the highest mortgage rates since 2008&nbsp;<\/li>\n\n\n\n<li>Adobe to acquire design software firm Figma for $20 billion<\/li>\n\n\n\n<li>Ethereum\u2019s Merge slashes its energy consumption by 99.9%<\/li>\n<\/ul>\n\n\n\n<p><strong><em>Taking stock | Inflated expectations | Ex forecast | A long way home | Why the stigma? | Ethereum | Invest wisely<\/em><\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Taking stock<\/strong><\/h2>\n\n\n\n<p>Wall Street ended the week in red, and all three major indexes fell to two-month lows. This week S&amp;P slid 4.77%, Nasdaq dropped 5.48%, and the Dow shed 4.13%. US stocks saw a turbulent week in response to inflation data and FedEx\u2019s warning of an upcoming global slowdown.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Inflated expectations<\/strong><\/h2>\n\n\n\n<p>This week, August\u2019s inflation report alarmed the stock market as consumer prices <a href=\"https:\/\/www.reuters.com\/markets\/us\/fed-seen-delivering-75-basis-point-hike-next-week-with-more-come-2022-09-13\/\" rel=\"nofollow\">climbed 0.1%<\/a> instead of declining as was expected. Compared to the same period last year, the inflation rate increased by 8.3%, while the core Consumer Price Index (CPI) stood at 6.3%. This triggered a sell-off, and all major indexes snapped out of their four-day winning streaks. The new inflation data is a strong signal that the Federal Reserve won\u2019t be backing down from its fight against inflation, and aggressive rate hikes will continue.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>FudgeEx<\/strong><\/h2>\n\n\n\n<p>On Thursday, FedEx Corp withdrew the financial forecast it had issued three months ago, saying that a slowdown in global demand began around August and is only going to worsen. The company announced the closure of 90 offices and significant cost-cutting measures. Shares of FedEx were <a href=\"https:\/\/www.cnbc.com\/2022\/09\/15\/fedex-fdx-earnings-q1-2023-miss-estimates.html\" rel=\"nofollow\">down more than 20% on Friday morning<\/a> and wiped about $11 billion of the company\u2019s market cap. This is the company\u2019s biggest stock drop since 1980.\u00a0<\/p>\n\n\n\n<p>This came alongside the company\u2019s fiscal first-quarter results that failed to meet Wall Street\u2019s expectations. The company reported a revenue of $23.2 billion as opposed to the expected $23.59 billion. FedEx\u2019s declining volume further heightened recession fears and an economic slowdown.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>A long way home<\/strong><\/h2>\n\n\n\n<p>Mortgage rates in the US have been on the rise since the beginning of this year and have now jumped above 6% for the first time since 2008. While mortgage rates do not directly track the Federal Reserve\u2019s key interest rate, they are influenced by it. With inflation soaring and the Fed hiking rates in an attempt to combat it, mortgage rates reached 6.02% this Thursday. Such high rates, along with higher home prices, are forcing many potential homebuyers to continue renting.&nbsp;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/tR2K-Ex1OL9nVx-I7LYTjCdQWMjwXbFrlZ8j_Nj2_t8lpObGaK2OywpvNmzlHi01QhK6_1svT5RZnDmXvBHpw_SxCXGBR0opDAU6b9z05ecttQ_gpZteHfqUPj20u-lRqBxk12iiKKIJilLd1ayN3Al82GcXaXA7F3hQMOuc5-4OmTzVUlVZ_VZ-QA\" alt=\"A graph on mortgage fixed-rates\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Stigma?<\/strong><\/h2>\n\n\n\n<p>Adobe announced on Thursday that it will be acquiring the design software startup Figma in a $20 billion cash and stock deal. However, <a href=\"https:\/\/www.cnbc.com\/2022\/09\/15\/adobe-to-acquire-design-platform-figma-for-20-billion.html\" rel=\"nofollow\">Adobe\u2019s shares plunged 17%<\/a> after this announcement. Wall Street likely saw this deal as too expensive \u2013 almost twice as much as Figma\u2019s recent valuation.\u00a0<\/p>\n\n\n\n<p>Figma\u2019s cloud-based design software allows creative professionals to collaborate in real time. The company, founded in 2012, has revolutionised how designers work as its software allows for multi-designer collaboration. Described by some creative professionals as Google Docs for designers, Figma has allowed design teams to increase their productivity and work significantly faster. Therefore, this acquisition is quite strategic for Adobe as it gives the company access to the kind of market it has been struggling to win over in recent years, such as small businesses.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Stake sauce<\/strong><\/h2>\n\n\n\n<p>On Thursday, Ethereum underwent a massive software upgrade that will allow the blockchain to create new coins and carry out transactions using a lot less energy. Called \u201cThe Merge\u201d, the new system slashes Etherium\u2019s energy consumption by as much as <a href=\"https:\/\/www.reuters.com\/technology\/ethereums-energy-saving-merge-upgrade-2022-09-15\/\" rel=\"nofollow\">99.9%<\/a> by merging the original Ethereum Mainnet with a separate proof-of-stake blockchain called Beacon Chain. Many view The Merge as a massive milestone in the crypto industry that will give Ethereum an edge over its rivals like bitcoin, which use extremely energy-intensive proof-of-work blockchains.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Invest wisely&nbsp;<\/strong><\/h2>\n\n\n\n<p>Investing in the current volatile markets can seem intimidating. But instead of staying away from the stock market, you should make use of AI-based investment recommendations and other tools that help build and manage your portfolio. The Appreciate App makes investing a guided, hassle-free, and easy process. It also allows you to access lucrative markets such as the US stock market. Download the <a href=\"https:\/\/appreciatewealth.com\/index\">App<\/a> today!<\/p>\n\n\n\n<p>Warm regards,<br><strong>Another week <\/strong><strong><br><\/strong><strong>in the markets<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stock market suffers massive sell-off<\/p>\n","protected":false},"featured_media":4669,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set"},"class_list":["post-4703","rearview_mirror","type-rearview_mirror","status-publish","format-standard","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - 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