Read More: FTSE 100 falls 1.3% as markets drop; retail sales hit by Omicron –
10:53
European stock markets have dropped deeper into the red, with the FTSE 100 now down 98 point, or 1.3%, in late trading.
10:51
After a torrid start to the year, analyst Dan Ives of Wedbush predicts tech stocks could turn the sentiment around….
Dan Ives
(@DivesTech)In the first 3 weeks of 2022 tech stocks already reflecting 3-4 rate hikes, Fed tapering, massive valuation reset, and Street anticipating moderating growth for the year with tough comps. We believe the next 2 weeks FAANG, software, chips earnings reverse “risk off” sentiment
Updated
10:39
The US stock market has dropped, as the selloff in tech stocks yesterday continues to weigh on equities.
The S&P 500 index of US listed companies took an early hit, and is currently down 14 points, or 0.4%, at 4,468 points, taking its losses so far this year over 6%.
Netflix is the top faller, tumbling by 25% after shocking Wall Street by predicting that new subscriber growth will fall to its lowest in over a decade this quarter.
Walt Disney, which runs rival streaming service Disney+, has dropped by over 6%
The Nasdaq Composite index sunk deeper into correction territory, down 1.4% at one stage, but it’s now off 0.5%.
Communications, energy and materials are the worst-performing sectors, while consumer staple goods and real estate are higher.
10:24
The Bank of England must lean against inflation pressures and stop expectations of higher price growth from getting entrenched, policymaker Catherine Mann…
Read More: FTSE 100 falls 1.3% as markets drop; retail sales hit by Omicron –