Stock market today: Dow, Nasdaq, S&P 500 slide as Treasury yields hit highest level since July
US stocks retreated on Tuesday as investors digested a recent bond-market selloff and braced for the next wave of earnings reports.
The S&P 500 (^GSPC) dropped more than 0.5%. The Dow Jones Industrial Average (^DJI) dropped more than 120 points, or around 0.3%, while the tech-heavy Nasdaq Composite (^IXIC) slid roughly 0.6%.
Read MoreGoldman predicts 3% return for S&P 500 over the next decade
Goldman’s bearish outlook comes as the S&P 500 enters its third year of a bull market, with a 27 percent annual total return over the last two years. Investors remain optimistic, believing the US economy has weathered inflation and that future Federal Reserve rate cuts will drive further growth.
However, Goldman warns that recent returns have been driven by a small number of stocks,
» Read more about: Goldman predicts 3% return for S&P 500 over the next decade »
Read More3 reasons why I think the S&P 500 will keep climbing!
The S&P 500 has enjoyed further stratospheric growth this century. Since the first trading day of 2000, the S&P 500 has risen a staggering 297% in value. To put that into context, the FTSE 100 has grown ‘just’ 20% in that time.
Past performance is not always a reliable guide to the future.
» Read more about: 3 reasons why I think the S&P 500 will keep climbing! »
Read More3 Defense ETFs to Watch as Global Tensions Rise
As global tension and geopolitical conflicts rise around the world, the defense industry is gaining much attention among investors. Driving the robust demand for defense products, the sector is rapidly fueling the market.
Given the industry’s robust prospects, investing in ETFs like SPDR S&P Aerospace & Defense ETF (XAR),
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Read MoreThe Burst
Top Market Guru Says Sell Stocks
In 2022, stock markets worldwide had a particularly bad start. The S&P500 fell more than 9% during January, albeit making something of a comeback. The index regained 11% from its local low but was still down 8% for the year when JPMorgan’s top-ranked strategist, Marko Kolanovic, advocated that investors move some money from stocks to bonds in response to ongoing concerns.
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Read MoreThe Ivy
This David Einhorn Stock Pays a 10.6% Dividend Yield
David Einhorn started Greenlight Capital in 1996 with $1 million in seed capital. Since then, his fund has grown to manage over $5 billion in assets under management.
Einhorn is famous for seeking out undervalued companies and holding them for the long term. He first gained notoriety for his successful short-selling of Lehman Brothers stock prior to its collapse during the financial crisis of 2008.
» Read more about: This David Einhorn Stock Pays a 10.6% Dividend Yield »
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