US stocks close sharply lower led by the NASDAQ index as rates move higher

  
Analysis, US Market

The major US stock indices are closing sharply lower led by the NASDAQ index, as equities continue to react to the move higher in rates.

  • The NASDAQ and the Russell index were the hardest hit
  • The Dow industrial average had its its worst day the in 2022
  • Dow industrial average is on a three day losing streak
  • Financials fell sharply led by Goldman Sachs which fell nearly 7% after worse than expected earnings
  • The energy sector was the only S&P sector to rise
  • Financials fell -2.5%
  • Technology fell -2.4%
  • The NASDAQ index close below its 200 day moving average for the first time since April 2020
  • The S&P index closed just above its 100 day moving average at 4575.95

The final numbers are showing:

  • ow industrial average fell -543.34 points or -1.51% at 35368.46
  • S&P index fell 85.74 points or -1.84% at 4577.10
  • NASDAQ index fell -386.85 points or -2.60% at 14506.91
  • Russell 2000 fell -66.23 points or -3.06% at 2096.22

The NASDAQ index closed below its 200 day moving average

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