S&P 500 enters bear zone as mega cap tech stocks plunge: Check major stock highlights

Stock Market Action

The S&P 500 plunged nearly 4% to a fresh low for the year and closed in the bear market territory as recession fears grew ahead of this week’s key Federal Reserve meeting on Wednesday. The index is now down more than 21% from its record high. 

The Dow Jones Industrial Average dropped 2.79%, to settle at 30,516, about 17% off its record high. The tech-heavy Nasdaq Composite slipped 4.68% to close at 10,809. Here are the major stock highlights from yesterday.

Major Stock Movement Highlights

Airbnb Crashed 9%: Airbnb extended fall over new Covid restrictions in China, demand concerns. Stock down 17% in the last 1-week.

Alibaba Crashed 10%: Alibaba slipped amid concerns about rising interest rates and slowing growth in the United States, the largest economy in the world.

Amazon Lost 5%: Amazon fell sharply following the crash in Big Tech stocks over inflation, growth concerns. Stock down 15% in the last 1-week.

Apple Lost 4%: Amazon fell sharply following the crash in Big Tech stocks over inflation, growth concerns. Stock down 9% in the last 1-week.

ARK Genomic Revolution ETF Crashed 8%: ARK Genomic Revolution ETF slumped as underlying stocks of Teladoc, Exact Science, Intellia Therapeutics declined.

ARK Innovation ETF Dropped 9%: ARK Innovation ETF crashed following a negative move in underlying stocks such as Roku, Teladoc, and Zoom.

Atlassian Crashed 10%: Atlassian hit 1-year low over growth concerns, massive fall in Tech & stocks due to inflation fears, stock down 53% since start of 2022.

Berkshire Hathaway Fell 4%: Berkshire Hathaway fell following the weakness in the financial stocks amid fears of recession in the US economy.

Cloudflare Dropped 12%: Cloudflare extended fall following the negative sentiment over weak business guidance, stock down 22% in the last 5-days.

Coinbase Crashed 11%: Coinbase crashed over internal discontent news over unsuccessful Coinbase NFT platform, stock down 23% in last 1-week.

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares ETF Fell 12%: Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares ETF fell following the massive volatility in oil stocks.

Direxion Semiconductor ETF Crashed 17%: Crash in semiconductor stocks prices such as AMD, Nvidia and Applied Materials led to a decline in ETF price.

DocuSign Crashed 10%: DocuSign extended fall after reporting weak earning estimates and lowering billings guidance, stock down 62% since the start of year 2022.

Facebook Ended 7% Lower: Facebook fell sharply following the crash in Big Tech stocks over inflation, growth concerns. Stock down 18% in the last 1-month.

Invesco Nasdaq 100 ETF Ended 5% Lower: Invesco Nasdaq 100 ETF ended lower tracking the Nasdaq index, Tech stocks fell led by Facebook, Apple, Amazon, and Microsoft.

Invesco QQQ ETF Ended 5% Lower: Invesco QQQ ETF ended lower tracking the Nasdaq index, Tech stocks fell led by Facebook, Apple, Amazon, and Microsoft.

Matterport Crashed 9%: Matterport extended fall over Apple's entry to compete with tech service tool 'RoomPlan'.

Netflix Slipped 7%: Netflix fell following the weakness in the Big Tech stocks post surprise jump in inflation, growth concerns. Stock down 13% in the last 1-week.

Nu Crashed 4%: Nu witnessed sharp decline following the massive fall in financials stocks amid inflation, growth concerns.

ProShares Bitcoin Strategy ETF Crashed 20%: ProShares Bitcoin Strategy ETF crashed tracking the massive fall in Bitcoin prices, ETF down 50% since the start of 2022.

ProShares Semiconductors ETF Slipped 12%: Crash in semiconductor stocks prices such as AMD, Nvidia and Applied Materials led to a decline in ETF price.

ProShares UltraPro S&P 500 ETF Fell 11%: ProShares UltraPro S&P 500 ETF ended lower tracking the S&P 500 index, falling in tech and growth stocks over inflation worries.

S&P 500 ETF TRUST ETF Ended 4% Lower: S&P 500 ETF TRUST ETF ended lower tracking the S&P 500 index, fall in tech and financial stocks amid inflation, growth concerns.

Shopify Crashed 10%: Shopify hit 1-year low over growth concerns, massive fall in Tech & stocks due to inflation fears, stock down 77% since start of 2022.

Square Crashed 13%: Square extended fall over weakness in financial stocks post Apple's entry into Buy Now, Pay Later service.

Uber Crashed 9%: Uber stock fell over rising inflation, fuel costs concerns. Stock down 11% in the last 1-week.

Unity Software Sank 7%: Unity Software extended fall post Citigroup's concerns over growth, lowering of share price target. Stock down 18% in the last 1-week.

Upstart Sank 10%: Upstart extended fall over weakness in financial stocks post Apple's entry into Buy Now, Pay Later service.

Vanguard S&P 500 ETF Ended 3% Lower: Vanguard S&P 500 ETF ended lower tracking the S&P 500 index, falling in tech and financial stocks.

WeWork Crashed 15%: WeWork shares extended fall post analyst downgrade over heavy debt and weak profitability indication for coming quarters.