Market check: Mega caps decline amid broad market sell-off
Yahoo Finance’s Ines Ferre breaks down how mega-cap tech stocks, travel stocks, and more are moving today during the market sell-off.
Video Transcript
- All right, much more on the market mood and on the sell off for that we turn to Yahoo Finance's Ines Ferre. Ines?
INES FERRE: Yeah, just taking a look at the NASDAQ 100 on our YFi interactive board we are seeing quite a bit of green on the screen. The mega caps are in the green. You've got Apple that's down more than 1%, Google, Amazon down 2%, Facebook down 3%-- or Meta, I should say. Now, Meta also has a lower price target over at Loop Capital, so that cutting of the price target at Loop Capital maybe also influencing part of the downturn that you're seeing on the stock. But you also have Tesla down 3% and you can see on the board Netflix, it's up slightly. DocuSign earlier being up just slightly, so some of the work-from-home or stay-at-home trades seeing a little bit of gains here but not too much.
Over on the travel board, although this YFi interact is not working now, but you may have the travel boards for me. Concerns over Omicron have been taking a bit of a hit on some of these stocks. However, you are looking at Carnival. That's in the green. Carnival reported its quarterly results. Also, Carnival saying that people were spending more on board. And also, American Airlines paring losses from earlier this morning had opened in the red, but you can see now that is in the green.
And then looking at some of the pharmaceuticals. We had been watching Moderna, that has some positive data out about its booster. It had been up 9% at the open but is now down about 3%. And I also want to mention what's happening with the Chinese stocks because we are seeing decline when it comes to these Chinese names. Look at Baba down 6%, jd.com down 5%. These Chinese companies declining for the fifth time in six sessions. You've got still that overhang of regulatory concerns and less of an appetite for riskier assets as we're seeing overall downturn in the market today or pressure on the market. Karina, Jared.
- Yeah, thank you for that report, Ines Ferre.
