The SPDR S&P 500 (NYSE: SPY) was popping up 0.7% at one point on Wednesday after weekly jobless claims jumped to a three-month high, bringing renewed hopes the Federal Reserv
Tech stocks have led the current market downturn and most of these, including big techs, have seen billions wiped away from their market capitalization.
Cathie Wood’s ARK Innovation ETF (ARCA: ARKK) is down roughly 63% year-to-date, compared to the NASDAQ which is down at least 29% year-to-date and the S&P 500 down over 16% year-to-date.
Former Treasury Secretary Lawrence H. Summers has said the markets are uncertain about what the U.S. Federal Reserve will do in the current economic environment which is witnessing a two-sided risk.