A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., March 5, 2020.Andrew Kelly/ReutersThe Nasdaq 100 fell 3% on Tuesday as mega-cap tech stocks resumed their months-long sell-off.Tuesday's decline makes it more likely that the recent 6% gain in the S&P 500 was nothing but a bear market rally.Stocks were initially higher on Tuesday after China eased its COVID-19 lockdown restrictions.US stocks resumed their months-long sell-off on Tuesday, with mega-cap tech stocks dragging the Nasdaq 100 down 3%.The decline makes it more likely that the 6% gain in the S&P 500 over the past week was nothing more than a bear market rally, drawing in hopeful bulls searching for a bottom only to reveal further downside ahead.
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mfox@businessinsider.com (Matthew Fox), Business Insider
Tue, 06/28/2022 - 1:05pm
Topics: new york stock exchange nyse new york city march kelly/reutersthe nasdaq york fed president john williams jones industrial average composite ark invest's cathie wood cnbc us gdp covid-19 additionally shanghai beijing the covid susannah streeter hargreaves lansdown sam bankman-fried bloomberg warren buffett occidental petroleum sec berkshire hathaway west texas intermediate ether treasury business insider u.s nasdaq s&p china us gdp bear market rally mega-cap tech stocks drag fell recession growth economic oil decline reported resumed interest months-long gain country sign higher lockdown supply rebound potential crude
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