Analysts Just Sounded the Alarm on These 5 Overhyped Stocks
Detailed summary
Wall Street had a rough week, and the damage came fast. Thursday’s sell-off erased $2.3 trillion in market value, pushed the Nasdaq into a correction and sent the VIX, the…
Wall Street had a rough week, and the damage came fast. Thursday's sell-off erased $2.3 trillion in market value, pushed the Nasdaq into a correction and sent the VIX, the market's fear gauge, up 70% to 28, Yahoo Finance reported on November 6. A chip-sector index that plunged 12% on Thursday bounced 4% the next day, and oil fell below $100 a barrel.
Politics added to the swings. The Dow roared back on Wednesday after the midterm results removed election uncertainty, and oil fell on hopes of a deal with Iran, according to Yahoo Finance on November 5, though the rally was already cooling.
Interest rates became the bigger worry. Payrolls rose by 165,000 in October, far above the 65,000 economists expected, while unemployment slipped to 4.1% from 4.2%, Reuters reported on November 6.
Traders read the numbers as a sign the Federal Reserve is not done tightening.
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