Stocks sell off into the close, Nasdaq sees worst day since 2020
Yahoo Finance's Ines Ferre breaks down the hits to the market ahead of the closing bell, including negative trends in Nasdaq leaders, the retail industry, and homebuilder stocks.
Video Transcript
- Markets in the red with six minutes to go until the bell. Ines Ferre has a closer look at the selling that we're seeing. Ines.
INES FERRE: And Seana, it is a risk-off environment right now. We're looking at the NASDAQ that's off more than 5%, its worst day since 2020. The S&P 500, down almost 4%. The Russell 2000, down more than 4.5%, and the NASDAQ 100 down 5.5%.
Let's take a look at the sectors. We are seeing all 11 sectors in the red. But you've got consumer discretionary again getting heavily hit. Also, technology and communication services, consumer discretionary, year to date, is one of the worst performers.
Looking at the NASDAQ 100, take a look here-- a lot of red on the screen, only two names that are in the green. Again, Amazon down 8%. It's part of that consumer discretionary sector. Also, looking at the retail space, because we have been watching Wayfair, we've been watching Shopify, been talking a lot about Shopify, Etsy.
Some of these names are down double-digit percentages. And one other mention that I want to make, as we've seen, higher rates. And we've seen mortgage rates go to 5.27. We are looking at the homebuilders losing today. Year to date, these homebuilders are down double-digit percentages. Guys.
- Ines Ferre, thank you so much.
