US Share Market Today: US Stocks end lower to post worst first half since 1970; check top gainers and losers
Share Market Today In The US
US stocks ended lower on Thursday, to post the worst first half of the year in more than 50-years. The Dow Jones closed 0.8% lower at 30,775.43. The S&P 500 slid nearly 0.9% to 3,785.38, and the Nasdaq Composite pulled back by 1.3% to 11,028.74. Growing fears of a potential recession continued to impact sentiments.
Top Gainers and Losers in US Stock Market Today
Airbnb down 5%: Airbnb fell sharply post the cut by JPMorgan to share price target and banning the once popular 'Home Parties' feature at rental properties.
ARK Genomic Revolution ETF lost 2%: ARK Genomic Revolution ETF fell tracking the losses in pharma growth stocks over possible recession fears.
ARK Innovation ETF dropped 4%: ARK Innovation ETF dropped following the decline in underlying growth stocks of Roku, UiPath, Teladoc, and Zoom.
Cloudflare crashed 5%: Cloudflare fell sharply as global broker Evercore ISI cut the target share prices by 40% to $65 per share over growth concerns.
Coinbase crashed 5%: Coinbase extended fall following the cut in target share price by Goldman Sachs, debt rating downgrade by Moody’s.
Direxion Daily S&P Oil & Gas Exp. & Prod. ETF sank 8%: Direxion Daily S&P Oil & Gas Exp. & Prod. ETF extended losses as the underlying energy stocks of Chevron, Phillips 66, and Exxon Mobil witnessed losses.
Direxion Daily Semiconductor Bull 3X ETF lost 3%: Direxion Daily Semiconductor Bull 3X ETF fell sharply tracking the losses in Semiconductors stocks of Nvidia, AMD, and Intel.
Facebook lost 2%: Facebook (Meta) share fell post news around CEO Zuckerberg's plan to cut the engineering team hiring target by 30% to 40% in 2022.
Invesco NASDAQ 100 ETF ended 1% lower: Invesco Nasdaq 100 ETF ended lower following weakness in the Tech-heavy Nasdaq index amid concerns of inflation and weak growth.
Invesco QQQ Trust Series 1 ETF fell 1%: Invesco QQQ Trust Series 1 ETF ended lower following weakness in the Tech-heavy Nasdaq index amid concerns of inflation and weak growth.
Netflix lost 2%: Netflix extended decline ahead of the launch of its ad-supported subscription, job cuts.
Pfizer surged 3%: Pfizer surged post winning a supply order from US govt of Comirnaty - a coronavirus vaccine.
ProShares Bitcoin Strategy ETF ended 7% lower: ProShares Bitcoin Strategy ETF ended sharply lower tracking the volatile movement in the prices of Bitcoin and trading volumes.
ProShares Ultra Semiconductors crashed 2%: ProShares Ultra Semiconductors ETF fell sharply tracking the losses in Semiconductors stocks of Nvidia, AMD, and Intel.
Qualcomm fell 2%: Qualcomm winessed profit booking after gaining 10% since the victory against Apple over a patent challenge in US Supreme Court.
Robinhood dropped 3%: Robinhood extended decline as crypto exchange FTX denied any acquisition plans for Robinhood.
Shopify sank 5%: Shopify shares extended fall post the 10-for-1 stock split, following the crash in the share price of tech & growth stocks over recession fears.
Square lost 4%: Square shares witnessed weakness post a 28% cut in the target share price by Truist - a global investment research firm.
SSgA S&P 500 ETF ended 1% lower: SSgA S&P 500 ETF ended lower following the weak trend at the S&P 500 index post amid concerns over future earnings and an economic slowdown.
Tesla sank 2%: Tesla share extended losses over the layoff news, closure of California office leading to vehicle delivery concerns.
Twilio sank 6%: Twilio expanded operations into the Canadian market, stock fell sharply following the decline in growth stocks over recession fears.
Uber lost 5%: Uber shares extended fall and hit a new 1-year low post analyst downgrades & cut in target share price amid recession fears.
UiPath crashed 8%: UiPath extended decline on the back of 5% job cuts, insiders selling and weak business outlook for coming quarter.
Unity Software crashed 7%: Unity Software extended decline on the back of news around job cut of 4% of its total workforce, target share price cut by analysts over possible recession.
Upstart ended 2% lower: Upstart extended fall post share downgrade by Morgan Stanley to 'underweight' over possible recession and growth concerns.
Vanguard S&P 500 ETF ended flat: Vanguard S&P 500 ETF ended lower following the weak trend at the S&P 500 index post amid concerns over future earnings and an economic slowdown.
Vanguard S&P 500 Growth ETF ended 1% lower: Vanguard S&P 500 Growth ETF ended lower following the weak trend at the S&P 500 index post amid concerns over future earnings and an economic slowdown.
Zoom fell 3%: Zoom share extended decline over weakness in technical indicators, falling investors' optimism in growth stocks over possible recession.
What happened in the US market?
US Stocks ended lower. Dow down 0.8%, SP 500 fell 0.9%, Nasdaq ended 1.3% lower.
How did the US market behave in 2022 so far?
The S&P 500 posted its worst first half of the year in 50 years, hurt by worries about surging inflation and Federal Reserve rate hikes. The index has fallen 22% in the year so far.
Which stocks declined?
Retail stocks plunged. High-end furniture chain RH shares dropped 11% after it issued tepid guidance. Wayfair and Williams-Sonoma fell roughly 9.6% and 4.4%, respectively.
Any stock specific action?
Walgreens Boots Alliance was the biggest decliner in the Dow, down 7.2% after the company said adjusted per-share earnings will grow in low single digits in 2022.