The Wednesday trading session has proven to be a letdown for the investment community as it has managed to end many rally streaks.
It had been several days since a strong rally had been witnessed for the stock markets. Most of the stocks were performing really well and the rally kept growing stronger.
Stock Rally Began in Mid-June
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Although some setbacks have been recorded in the stock markets the overall stock market condition has remained bullish and favorable for investors.
Overall, the situation for the stocks has remained bullish since mid-June. However, the Wednesday drop in the stock prices shows that the buyers have finally run out of fuel.
As the investors are running out of steam, it is obvious that the trading prices for the stocks would move south.
Apart from the investors losing steam, there are two other reasons that are connected with the Feds.
The investors have recently assessed the latest minutes from the Federal Reserve as well as the retail data shared by them.
Performance of Stock Indexes
The data from NASDAQ Composite shows that it has dipped by 1.25%. After the dip, its points have moved down to 12,938.12.
The S&P 500 index has also recorded a 0.72% dip in the latest trading session. The dip has brought the index down to 4,274.04 points.
The Dow Jones Industrial Average also witnessed a dip in the latest stock trading session as it experienced a 0.5% dip. The recent dip has caused the index to lose 171.69 points and it is now down to 33,980.32 points in total.
30-Stock Index Loses 5-Day Winning Streak
The stock market report shows that the 30-stock index has ended up snapping the winning streak it had maintained for 5-days.
Despite the fall the stock market incurred in the latest trading session, still, the overall performance of the stock markets for the week remains positive.
From the beginning of the week, the overall dip the NASDAQ Composite has recorded is 0.84%. On the other hand, the S&P 500 index has dipped 0.14%.
Stock Markets are Volatile
In recent days, the stock market has become very volatile. As the traders are waiting for the Fed meeting minutes to come out and assess them, they are adding more volatility to the stock market.
It is being expected that the Feds are going to post a slow hike in the interest rates. This is going to help push the stock trading market in a positive direction.
Among the major stocks, the share prices for Tesla have dipped 2.6% while in the Asian stock markets, it is Meituan that has experienced an almost 10% dip.
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