US Market today: Why is Amazon share price falling? Check top gainers and losers in the US markets
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What happened in the US stock market today?
- US stocks crashed on Friday. Nasdaq down 1.8%, S&P 500 dropped 1.7% and Dow Jones declined 1.8%.
- Volatile oil prices, soaring inflation, geopolitical tensions and rising US Dollar hurt sentiments.
- Goldman Sachs cut its year-end S&P 500 target because of rising rates, predicting at least a 4% downside from here.
- Consumer discretionary shares of Royal Caribbean and Norwegian Cruise Line fell more than 5%, amid fears of a slowdown.
US stock market today: Top gainers and losers
| Stock price action | Reason behind the move |
|---|---|
| Adobe fell 1% | Adobe share price ended near its 1-year low, valuation concerns over Figma acquisition deal leading to weakness, stock down 30% in last 1-month. |
| Airbnb fell 2% | Airbnb share price ended lower amid concerns over possible lockdowns in more chinese cities, stock down 13% in last 5-trading sessions. |
| Amazon fell 3% | Amazon share price extended fall amid reports of UK regulator's probe over market monopoly. |
| AMD lost 2% | AMD share price extended fall after Bank of America research raised concerns over earnings growth outlook. |
| Apple fell 2% | Apple share price fell over reports of a regulatory delay in a deal with Chinese chipmaker. |
| ARK Innovation ETF fell 2% | ARK Innovation ETF price fell, driven by the losses in underlying growth stocks of Tesla and Teladoc. |
| Bank Of America fell 2% | Bank Of America share price fell along with other bank stocks driven by recession fears post the 0.75% rate hike by US central bank. |
| Cloudflare fell 4% | Cloudflare share price fell sharply over reports of exit by many investors, management selling stocks in open market. |
| Coinbase fell 2% | Coinbase share price ended fell over reports of a new speculative crypto trading venture, JPMorgan's lowered its price target. |
| Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares ETF fell 16% | Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares ETF price fell driven by losses in energy stocks of ConocoPhillips and Marathon Petroleum. |
| Direxion Daily Semiconductor Bull 3X Shares ETF fell 4% | Direxion Daily Semiconductor Bull 3X Shares ETF price fell, tracking the losses in chip stocks of Analog Devices and AMD. |
| Direxion Daily Technology Bull 3X Shares ETF fell 4% | Direxion Daily Technology Bull 3X Shares ETF price fell, driven by losses in the shares of Mastercard and Apple. |
| Disney fell 3% | Disney share price fell post analysts' concerns over theme park business's revenue growth, stock down 15% in last 1-month. |
| Dominos Pizza rose 3% | Domino’s Pizza share price jumped after BMO upgraded the stock to outperform, forecasting a rebound in the fast-food chain on the back of strong demand. |
| FedEx fell 3% | FedEx share price touched a new 1-year low over weak revenue growth, company planning to increase rates between 6.9% and 7.9%. |
| Ford lost 4% | Ford share price fell amid reports of management shuffle amid global supply chain concerns, stock down 15% in last 5-trading sessions. |
| Global X Lithium & Battery Tech ETF fell 4% | Global X Lithium & Battery Tech ETF price fell tracking lithium prices and losses in underlying stock of Albemarle Corporation. |
| Google (Alphabet) fell 1% | Google (Alphabet) share price touched 1-year low, recession concerns post 0.75% rate hike by US central bank hurt sentiments. |
| Intuit fell 1% | Intuit share price extended fall, down 15% since last 1-month, driven by weak earnings growth outlook. |
| Invesco NASDAQ 100 ETF fell 2% | Invesco NASDAQ 100 ETF price fell tracking the losses in tech stocks driven by recession fears post the US central bank's decision of 0.75% interest rate hike. |
| Invesco QQQ Trust Series 1 ETF fell 2% | Invesco QQQ Trust Series 1 ETF price fell tracking the losses in tech stocks driven by recession fears post the US central bank's decision of 0.75% interest rate hike. |
| JPMorgan fell 2% | JPMorgan share price fell along with other bank stocks driven by recession fears post the 0.75% rate hike by US central bank. |
| Mastercard fell 2% | Mastercard share price touched 1-year low amid reports of potential regulatory actions over 'Buy Now Pay Later' business. |
| Meta (Facebook) fell 2% | Meta (Facebook) share price touched new 1-year low, reports of regulatory probe over users' tracking on iOS hurt sentiments. |
| Microsoft ended 1% lower | Microsoft share price touched new 1-year low, legal hurdle in UK for $69 billion Activision acquisition deal hurt sentiments. |
| Nike fell 2% | Nike share price touched 1-year low post weak growth forecast, brokerage downgrades. |
| Nio sank 4% | Nio share price ended lower driven by geopolitical concerns due to Russia's ties to China, more potential lockdowns led to volatility. |
| ProShares Bitcoin Strategy ETF fell 3% | ProShares Bitcoin Strategy ETF price fell driven by losses in Bitcoin prices and trading volumes. |
| ProShares Ultra Semiconductors fell 3% | ProShares Ultra Semiconductors ETF price fell tracking the losses in chip stocks of QUALCOMM and Intel. |
| ProShares UltraPro S&P 500 ETF lost 5% | ProShares UltraPro S&P 500 ETF price extended decline driven by recession fears after the 0.75% hike in interest rate by US central bank. |
| Qualcomm fell 2% | Qualcomm share price fell along with other chip stocks amid growth concerns, JPMorgan's overweight rating capped the losses. |
| Roblox fell 1% | Roblox share price extended fall over weaker than anticipated August month numbers for daily active users and revenue. |
| S&P 500 ETF fell 2% | S&P 500 ETF price extended decline driven by recession fears after the 0.75% hike in interest rate by US central bank. |
| Shopify rose 1% | Shopify share price ended slightly higher after touching 1-year low, concerns over short term growth outlook hurt investor sentiments. |
| Tesla fell 4% | Tesla share price ended lower driven by an order from the National Highways Traffic Safety Administration to initiate a recall of over a million vehicles. |
| Vanguard S&P 500 ETF fell 2% | Vanguard S&P 500 ETF price extended decline driven by recession fears after the 0.75% hike in interest rate by US central bank. |
| Vanguard S&P 500 Growth ETF fell 2% | Vanguard S&P 500 Growth ETF price extended decline driven by recession fears after the 0.75% hike in interest rate by US central bank. |
Which are the two stocks that star fund manager Cathie Wood bought recently?
Ans: Star Fund Manager Cathy Woods bought Ginkgo Bioworks and TuSimple stocks recently in her Ark Investment ETFs.
Why is Amazon share price falling?
Amazon share price extended fall amid reports of UK regulator's probe over market monopoly.
Why did Microsoft share price decline?
Microsoft share price touched new 1-year low, legal hurdle in UK for $69 billion Activision acquisition deal hurt sentiments.
Why did US markets crash?
US stocks crashed on Friday. Nasdaq down 1.8%, S&P 500 dropped 1.7% and Dow Jones declined 1.8% amid volatile oil prices, soaring inflation, geopolitical tensions and rising US Dollar hurt sentiments.
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