Here we go again.
After a wild day of trading that saw a 1,000-point swing by the Dow, U.S. stock futures fell sharply Monday night.
Dow Jones Industrial Average futures YM00, -0.74% were down more than 300 points just before midnight Eastern, while S&P 500 futures ES00, -1.18% and Nasdaq-100 futures NQ00, -1.65% sank as well.
In regular trading Monday, the Dow DJIA, +0.29% gained 99.13 points, or 0.3%, to finish at 34,364.50, after being down by as much as 3.3% earlier in the day. The S&P 500 SPX, +0.28% rose 12.19 points, or 0.3%, at 4,410.13, after sinking as much as 4% and briefly falling into correction territory. The Nasdaq COMP, +0.63% advanced 86.21 points, or 0.6%, at 13,855.13, after being down nearly 5% earlier in the day.
The sharp selloff and surprise rally came amid market uncertainty stoked by rising inflation, disappointing earnings, anxiety about the Fed’s expected policy changes, fears of a Russian invasion of Ukraine and the ongoing COVID-19 pandemic.
Still, Dan Eye, chief investment officer at Fort Pitt Capital Group in Pittsburgh, told MarketWatch on Monday that the market is acting normally — it’s just that we’re not used to it after such a long bull market. “The volatility we’re seeing is normal. As the Fed pivots toward fighting inflation, we’re going to see an environment of more push-and-pull and drawdowns in the stock market than we’ve seen over the last two years,” he said.
This article was originally published by Marketwatch.com. Read the original article here.
