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Number Of Nasdaq Stocks Down 50% Or More Approaches Record

Posted on January 10th, 2022 at 12:46 PM
Number Of Nasdaq Stocks Down 50% Or More Approaches Record

From the Desk of Jim Eccleston at ÍøÆØ³Ô¹Ï:

An increasing number of Nasdaq stocks have plummeted by around 50% in an echo of the dot-com crash. 

In fact, nearly four in every ten companies listed on the Nasdaq Composite Index have watched their market values slide by 50% compared to their 52-week highs, according to Jason Goepfert, chief research officer at Sundial Capital Research. Further, this is the first time since the dot-com crash that stock values have plunged while the Nasdaq index approaches a record peak. Goepfert further explained that tech stocks have continually faced pressure amidst a bond-market selloff, which has risen yields on 10-year Treasury’s to 1.72%. 

Pressure has only increased after the minutes of a recent Federal Reserve policy meeting illustrated the potential for earlier and faster rate hikes. The Nasdaq Composite Index is set for its largest weekly decline since November, while a 3.3% fall last ÍøÆØ³Ô¹Ïdnesday constituted the index’s worst single-day session since February 2021. 

ÍøÆØ³Ô¹Ï LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

Tags: eccleston, eccleston law, nasdaq, stocks down

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