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The SPY Was Down Today. Here's Why.

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·2 min read
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U.S. indices traded lower Tuesday amid a continued sell-off in equities, driven by selling in growth stocks and technology stocks. Inflation concerns have also weighed on stocks and further pressured growth sectors.

  • The SPDR S&P 500 ETF Trust (NASDAQ: SPY) finished lower by 0.89% at $414.21.

  • The Invesco QQQ Trust Series 1 (NASDAQ: QQQ) fell by 0.14% at $325.31.

  • The SPDR Dow Jones Industrial Average ETF Trust (NASDAQ: DIA) finished lower by 1.39% at $342.91.

Here are the day's winners and losers from the SPY, according to data from Benzinga Pro.

Leaders for the S&P 500 were Enphase Energy Inc (NASDAQ: ENPH), Paypal Holdings Inc (NASDAQ: PYPL) and Twitter Inc (NYSE: TWTR).

Hanesbrands Inc. (NYSE: HBI), Occidental Petroleum Corporation (NYSE: OXY) and HP Inc (NYSE: HPQ) were among the largest losers.

Elsewhere On The Street

Data analytics company Palantir Technologies Inc. (NYSE: PLTR) is the latest public company to embrace Bitcoin. Palantir, which reported forecast-beating first-quarter revenue Tuesday and in-line earnings per share, said on its earnings call that it will accept Bitcoin (CRYPTO: BTC) as payment from customers... Read More

Neuberger Berman's Dan Flax talked Tuesday about three growth stocks in particular that he thinks are well-positioned in the long term on CNBC's "Squawk Box." Rising interest rates will be a concern for growth stocks in the near term, but longer-term secular trends around the buildout of digital infrastructure remain healthy, Flax said... Read More

A leading retailer of home, fragrance and women’s lingerie and beauty products has announced a spinoff intended to unlock shareholder value. Here’s what investors should know about the spinoff of Victoria’s Secret business from L Brands (NYSE: LB)... Read More

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