“Dow loses 500 points, S&P 500 tumbles to new low for 2022 as sell-off intensifies”
May 9, 2022
“…The S&P 500 traded as low as 4,021.16 on the day, as all sectors dipped into the red. Amid the losses, the benchmark 10-year Treasury note yield hit its highest level since late 2018, trading well above 3%.
Rising rates continued to put pressure on technology names such as Meta Platforms and Alphabet, which fell more than 4.3% and 1.7%, respectively. Amazon and Apple were all down more than 1%, while Tesla and Nvidia dipped about 4%.
The combination of high rates and a potential recession as inflation surges also hit other areas of the market. Consumer stocks like Nike suffered along with industrials such as Caterpillar and Deere. Bank stocks also came under pressure with Bank of America falling more than 1%.
Boeing marked the biggest loser in the Dow, falling more than 4% followed by energy bellwether Chevron which slipped 3.7% as U.S. oil futures continued to slide. Home Depot and Walmart remained bright spots in the market, posting gains amid the broader sell-off…”
Now is about the right time to start buy not selling. For those who can’t decide on the proper timing to buy stocks up for cheap, the best thing to do is dollar cost average into some stocks. Personally I’m going in hard on cryptocurrency. Shiba Inu to be exact. The more it drops the more I buy. No risk no reward as they say. I got my start in penny stock. I didn’t make it this far by being timid. Speaking of penny stocks I’m getting back into those as well. The last few months or so were slow for me but now I feel I’m in prime position. Best believe I’m ready to strike like lighting.