All major benchmarks were lower to kick off the week
| |  5/17/2021 | | | Have you seen our volatility scorecard? Sign up by clicking here! | Inflation Fears Maintain Tight Grip on Wall Street | By: Fernanda Horner | | The major benchmarks had a rough start to the week, as Big Tech resumed its selloff amid persistent inflation fears. Though the Dow managed to reverse some of its steeper intraday losses, it still closed the day with a 54-point drop. The S&P 500 and tech-heavy Nasdaq finished in the red as well, as investors continued to abandon growth stocks in favor of reopening plays. Many on Wall Street are already looking ahead to the release of the Fed's latest meeting minutes, due out Wednesday, which could give more clarity as to where the central bank stands on inflation. In other news, bitcoin has been on a rollercoaster ride over the past few days, after Elon Musk posted a series of tweets muddying Tesla's (TSLA) view of the cryptocurrency. Musk said last week the company will no longer accept bitcoin for car purchases, but later clarified it "has not sold any Bitcoin." Continue reading for more on today's market, including: - Why Under Armour stock might be ready for its second wind.
- Options bulls blasted DISCA and T after major merger news.
- Plus, gas station name brushes off FTC probe; bull signal flashing for TSLA; and unpacking BofA's CMI upgrade.
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