Wall Street is shaping up to have one of the worst days on the market since October 2020… Following a brutal week of fear of the Federal Reserve raising interest rates and mixed earnings reports, there was more blood in the streets Monday.
We rallied from the lows of the day — which included a nearly 4% drop in the S&P 500 and a 5% dip in the Nasdaq — , but the negative sentiment continued after a new geopolitical wave of fear with the situation in Russia and the Ukraine.
Monday morning saw the Dow fall more than 1,000 points. It was down about 800 in the early afternoon before cutting that deficit in half by 3:20 p.m. EST.
The S&P 500 fell 2.9% — 10% lower than its recent highs. However, the weakest indicator Monday ended up being the Nasdaq — down nearly 5% at one point before rallying into the close.
Luckily, I was able to join my readers in a LIVE trading session Monday to soothe any worries and tackle every question traders had in order to successfully navigate this correction.
In fact, I have a feeling the bearish sentiment is going to stick around for at least half a year…
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