Market Week: September 14, 2020
Stocks continued to slide last Tuesday as falling tech shares pulled the Nasdaq down 4.1%. Crude oil prices plunged 7.5%, and Treasury yields sank 5.1% as money poured into bonds, driving prices higher. Investors, leery of overvaluations, continued to sell off shares. The relationship between the United States and China continued to sour as President Trump threatened recourse against American companies that create jobs overseas or that do business with China. By the close of trading, the S&P 500 lost 2.8%, the Dow fell 2.3%, the Russell 2000 lost 2.0%, and the Global Dow sank 1.6%.
After three days of sell-offs, tech shares reversed course last Wednesday. Lower stock prices were too tempting for some investors to pass up. The Nasdaq jumped 2.7%, the S&P 500 gained 2.0%, and the Dow climbed 1.6%. Crude oil prices and Treasury yields rose while the dollar declined.
