Wall Street advanced on Thursday after a strong quarterly report from Meta Platforms lifted beaten down technology and growth stocks and offset worries about the U.S.
U.S. stocks tumbled on Tuesday, with the Nasdaq closing at its lowest since December 2020 as investors worried about slowing global growth and a more aggressive Fed.
Wall Street’s ended lower on Thursday, with the Nasdaq dropping more than 2%, as investors reacted to Fed officials including Chair Jerome Powell offering further signposting of aggressive interest rate hikes this year.
The three main Wall Street indexes had their best days in over a month on Tuesday, with the Nasdaq advancing 2.2%, as investors responded to positive earnings and dovish comments from two U.S.
Wall Street turned a rally into a sell-off on Tuesday, reversing earlier gains as impending monetary tightening from the Fed once again pulled growth stocks back into red territory.