In the current stock market correction, it wouldn’t be a normal day without a catastrophic stock sell-off. On Tuesday, Upstart took the title, with a 60% hammering in huge volume. The cloud-based consumer lending platform cut its full-year revenue forecast.

stock market news today

Higher interest rates and prices threaten a recession this year, the company said. Department of Labor reported that producer price inflation hit a historic high in November, Forex up 9.6% from a year ago. This news came on top of a reported 6.8% jump in consumer prices that came out yesterday — the fastest rate of price growth in 40 years.

Wall Street Slammed As Recession Worries Mount; S&p 500 Sinks 3%

Some of the world’s biggest investors and hedge funds have already invested millions into this company. Inflation news spooked tech stock investors on Tuesday. Pfizer rose 0.7% YELP but continued to test resistance at the 200-day moving average. The pharmaceutical giant announced it is acquiring Biohaven Pharmaceutical in a deal valued at $11.6 billion.

  • Other reports said the factory wasn’t entirely halted.
  • The S&P 500 rose 1%, and the Nasdaq Composite advanced 0.9%.
  • Are you getting the critical information you need ahead of the trading day?
  • The Fed is meeting today and tomorrow, by the way, to set policy on inflation .
  • The stock market tried to bounce back after a three-day sell-off, but sharp gains at the open faded.
  • Why Teladoc Health Stock Slid Today Alex Carchidi

    With Covid restrictions largely lifted, gyms are recovering. Planet Fitness rose 2.6% on better-than-expected results.

    State Of The Stock Market Webinar

    Why Upstart Was Down Double Digits Today Billy Duberstein

    MOS stock crashed 12.8% to 55.86, plunging decisively below its 50-day moving average and recent support. Fertilizer stocks had been huge winners in recent months but are now cracking along with many other commodity https://dotbig.com/markets/stocks/YELP/ plays. Newell Brands , Viatris and News Corp. were the top three S&P 500 index gainers on the stock market today.Apache Corp. , Marathon Oil and Mosaic were the S&P 500’s biggest losers on Monday.

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