Market Rebounds In Volatile Trading But Netflix, Meme Stocks Led by AMC Extend Losses Ahead of Fed Meeting, Next Round Of Quarterly Earnings
deadline.comWall Street had a wild start to the week, with stock markets rebounding to end the day higher after plunging on worries about rising interest rates and tensions in the Ukraine.Media stocks mostly ended up in positive territory, though AMC and Netflix were notable exceptions, declining 7% and 2.6%, respectively.
The Dow, Nasdaq and S&P 500 all finished higher after a swing of hundreds of points. In the early going, he damage was pretty severe, with the S&P joining the Nasdaq in territory that qualifies as a correction.Economists generally define a correction as a 10% decline from the peak, which came last December for the tech-heavy Nasdaq.
Even after recovering hundreds of points to record a fractional gain today and close at 13,855.13, the index is still down almost 12% in 2022 to date.
The Dow also ended the session up a fraction at 34,364 and the S&P hit the closing bell at 4,222.62 after regaining almost 200 points.Netflix extended its slump, though today’s downturn was a fraction of Friday’s 22% drop.
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