Tuesday, 23 February 2021

Markets fall, Nasdaq plunges

Markets fell on Monday.

The S&P 500 fell 0.8 percent while the Nasdaq Composite plunged 2.5 percent.

Elsewhere, the STOXX Europe 600 fell 0.4 percent and the Shanghai Composite tumbled 1.5 percent.

Matt Maley, chief market strategist at Miller Tabak, said that the recent rise in US Treasury yields “should be something that investors keep a close eye on”.

However, Keith Lerner, chief market strategist at Truist, said: “Given that we are in the early stages of an economic recovery, monetary and fiscal policy remains supportive, the sharp rebound in earnings, and favorable relative valuations, we maintain our overweight to equities.”

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