Stocks Seesaw From Big Gains, to Losses, and Back Again
*By Carlo Versano*
What the market giveth, the market taketh away...or does it?
After coming out of the gate roaring Friday morning, the Dow Industrials gave back 400 points worth of gains and turned negative midday. But just a few minutes later, around 1:10 pm ET, the index was back up triple digits. The tech-heavy Nasdaq was up about 1.4 percent.
While stocks were well off their highs of the day, tech names, which saw some of the biggest losses over the previous two days, were largely higher Friday. Four of the so-called FAANG stocks ー Apple ($AAPL), Amazon ($AMZN), Netflix ($NFLX), and Google parent Alphabet ($GOOGL) ー added a combined $67 billion back to their collective market cap. The only one that was down was Facebook ($FB), which provided an update to the data breach announced last month, saying attackers stole data from 29 million users.
Trading was once again choppy amid a mounting heap of concerns over the global economy, trade tensions, interest rates, and a slowdown in tech.
The major indexes are on pace for their worst week since March.
The RESTRICT Act seeks to proactively tackle dangerous technology, including TikTok, according to a bipartisan group of senators that includes Mark Warner (D-Va.).
U.S. investigators suspect that a Tesla was operating on an automated driving system when it crashed into a firetruck in California last month, killing the driver and critically injuring a passenger.
Cate Luzio, the founder of Luminary, a professional networking platform focused on helping women succeed in their careers, spoke to Cheddar about equity on International Women's Day.
Stocks steadied on Wall Street Wednesday and closed with a mixed finish, a day after worries about interest rates sent them to one of their worst tumbles of the year.
