The Dow is down nearly 300 points midday
| 5/04/2021 | | Have you seen our volatility scorecard? Sign up by clicking here! | Dow Stares at Triple-Digit Landslide While Tech Takes a Hit | By: Jake Scott | The Dow Jones Industrial Average (DJI) is headed toward a triple-digit nosedive, last seen down 297 points. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC), are also continuing to drag midday, and the latter is off over 2% as FAANG stocks weaken further. Tech is continuing to weigh on markets this afternoon, while comments from Treasury Secretary Janet Yellen over a potential rise in interest rates has also left traders spooked. Yellen suggested a hike in rates could be necessary to keep the economy from overheating, calling any potential increase "very modest." Continue reading for more on today's market, including: - Option traders come out in droves after Pfizer reports billions in Covid-19 vaccine revenue made during the first quarter.
- The new technical ceiling XPO is facing after earnings.
- Plus, bulls bet on more upside for PRTY before earnings; COCP Covid-19 treatment update sends stock soaring; and CCXI hits lowest level since 2019.
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