New Zealand markets close in 4 hours 29 minutes
  • NZX 50

    11,141.10
    -16.56 (-0.15%)
     
  • NZD/USD

    0.6325
    +0.0014 (+0.23%)
     
  • NZD/EUR

    0.6048
    +0.0009 (+0.15%)
     
  • ALL ORDS

    7,345.50
    +19.30 (+0.26%)
     
  • ASX 200

    7,108.70
    +15.70 (+0.22%)
     
  • OIL

    113.85
    -0.35 (-0.31%)
     
  • GOLD

    1,827.00
    +13.00 (+0.72%)
     
  • NASDAQ

    12,243.58
    -143.82 (-1.16%)
     
  • FTSE

    7,464.80
    +46.65 (+0.63%)
     
  • Dow Jones

    32,223.42
    +26.76 (+0.08%)
     
  • DAX

    13,964.38
    -63.55 (-0.45%)
     
  • Hang Seng

    19,950.21
    +51.44 (+0.26%)
     
  • NIKKEI 225

    26,490.98
    -56.07 (-0.21%)
     
  • NZD/JPY

    81.5950
    +0.1770 (+0.22%)
     

S&P falls in a roller-coaster session

Not even strong economic data – the best in decades – could lift investors’ spirits.

Stocks on Wall Street fell in another volatile session Thursday. Uncertainty whipsawed the markets, as mixed corporate earnings, Fed fears and geopolitical unrest offset news that the economy grew last year at its fastest pace in almost four decades.

Wilmington Trust Chief Investment Officer Tony Roth says the strong economic report will give the Fed more room to apply the brakes on the economy to control inflation.

“The Fed has a cushion if you will. the Fed can slow down the economy without throwing it into recession. And the Fed is more focused now on inflation than anything else.”

But skittish investors drove the Dow down just below breakeven. The S&P 500 narrowly avoided confirmation of a correction, shedding a half percent. The Nasdaq lost almost one-and-a-half percent.

Pressuring the S&P and Nasdaq: Tesla. Shares dropped nearly 12%. The electric vehicle maker warned that supply issues will last throughout 2022. That pulled down shares of rivals Lucid and Rivian Automotive.

Investors got some good news after the bell. Shares of tech titan Apple rose. High demand for iPhones in China helped boost sales to a record in the holiday quarter, beating estimates.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting