US Market today: Why is Facebook (META) 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 started the week on a poor note. Nasdaq down 0.6%, S&P 500 dropped 1.03% and Dow Jones declined 1.11%.
- Volatile oil prices, soaring inflation, geopolitical tensions and rising US Dollar hurt sentiments.
- The S&P 500 posted a new closing low for 2022 and the Dow Jones entered into a bear market.
- Lyft share price fell about 3% after UBS downgraded the stock to neutral from a buy.
US stock market today: Top gainers and losers
| Stock price action | Reason behind the move |
|---|---|
| Adobe fell 3% | Adobe share price ended near its 1-year low yesterday, valuation concerns over Figma acquisition deal leading to weakness, stock down 25% since the announcement. |
| Airbnb rose 1% | Airbnb share price rose yesterday driven by short covering, still down 12% in last 5 trading sessions driven by concerns of possible lockdowns in more Chinese cities. |
| Amazon rose 1% | Amazon share price rose yesterday as the firm shared plans to launch another Prime Day in October - sharp jump in sales anticipated. |
| AMD lost 2% | AMD share price extended fall yesterday after Bank of America research raised concerns over earnings growth outlook. |
| Apple ended flat | Apple share price ended flat yesterday, taking a breather from the fall in last few sessions over reports of a regulatory delay in a deal with Chinese chipmaker. |
| ARK Innovation ETF fell 1% | ARK Innovation ETF price fell yesterday, driven by the losses in underlying growth stocks of Block, Roku and Teladoc. |
| Bank Of America fell 2% | Bank Of America share price fell yesterday along with other bank stocks driven by recession fears post the 0.75% rate hike by US central bank. |
| Cloudflare fell 1% | Cloudflare share price extended fall yesterday amid reports of exit by many investors, management selling stocks in open market. |
| Coinbase rose 1% | Coinbase share price ended higher yesterday driven by short covering, A new $350 million legal threat over patent by Blockchain firm Veritaseum capped the gains. |
| Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares ETF lost 6% | Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares ETF price fell yesterday driven by losses in energy stocks of Antero Resources and Devon Energy. |
| Direxion Daily Semiconductor Bull 3X Shares ETF fell 5% | Direxion Daily Semiconductor Bull 3X Shares ETF price fell yesterday tracking the losses in chip stocks of AMD and NVIDIA. |
| Direxion Daily Technology Bull 3X Shares ETF fell 2% | Direxion Daily Technology Bull 3X Shares ETF price fell yesterday driven by losses in the shares of PayPal and NVIDIA. |
| Disney fell 1% | Disney share price extended fall yesterday over analysts' concerns about theme park business's revenue growth, stock down 9% in last 5-trading sessions. |
| Dominos Pizza fell 2% | Domino’s Pizza share price witnessed profit-booking yesterday after a rally driven by brokerage upgrade on Friday. |
| FedEx fell 4% | FedEx share price touched a new 1-year low yesterday, down 30% since announcing weak revenue growth estimation for remaining year 2022. |
| Ford lost 3% | Ford share price extended fall yesterday 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 1% | Global X Lithium & Battery Tech ETF price fell yesterday tracking lithium prices and losses in underlying stock of Albemarle Corporation. |
| Google (Alphabet) ended flat | Google (Alphabet) share price ended near its 1-year low yesterday, recession concerns post 0.75% rate hike by US central bank hurt sentiments. |
| Intuit ended flat | Intuit share price ended flat yesterday, down 9% since last 1-month driven by weak earnings growth outlook. |
| Invesco NASDAQ 100 ETF fell 1% | Invesco NASDAQ 100 ETF price fell yesterday 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 ended flat | Invesco QQQ Trust Series 1 ETF ended flat yesterday tracking the volatility 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 yesterday along with other bank stocks driven by recession fears post the 0.75% rate hike by US central bank. |
| Mastercard fell 1% | Mastercard share price touched new 1-year low yesterday amid reports of potential regulatory actions over 'Buy Now Pay Later' business. |
| Meta (Facebook) fell 3% | Meta (Facebook) share price touched new 1-year low yesterday, reports of regulatory probe over users' tracking on iOS hurt sentiments. |
| Microsoft ended flat | Microsoft share price ended lower yesterday, legal hurdle in UK for $69 billion Activision acquisition deal hurt sentiments. |
| Nike fell 1% | Nike share price ended near its 1-year low yesterday post weak growth forecast, brokerage downgrades. |
| Nio ended flat | Nio share price ended flat yesterday in a volatile trade driven by concerns over potential lockdowns in China. |
| ProShares Bitcoin Strategy ETF rose 2% | ProShares Bitcoin Strategy ETF price rose yesterday driven by gains in Bitcoin prices and trading volumes. |
| ProShares Ultra Semiconductors fell 3% | ProShares Ultra Semiconductors ETF price fell yesterday tracking the losses in chip stocks of NVIDIA and Intel. |
| ProShares UltraPro S&P 500 ETF lost 3% | ProShares UltraPro S&P 500 ETF price extended decline yesterday driven by recession fears after the 0.75% hike in interest rate by US central bank. |
| Qualcomm fell 1% | Qualcomm share price fell yesterday along with other chip stocks amid growth concerns, JPMorgan's overweight rating capped the losses. |
| Roblox ended flat | Roblox share price ended at day's low yesterday, down 6% from day's high. Weaker than anticipated August month numbers for daily active users and revenue hurt sentiments. |
| S&P 500 ETF fell 1% | S&P 500 ETF price extended decline yesterday driven by recession fears after the 0.75% hike in interest rate by US central bank. |
| Shopify fell 2% | Shopify share price ended lower yesterday near its 1-year low, concerns over short term growth outlook hurt investor sentiments. |
| Vanguard S&P 500 ETF fell 1% | Vanguard S&P 500 ETF price extended decline yesterday driven by recession fears after the 0.75% hike in interest rate by US central bank. |
| Vanguard S&P 500 Growth ETF fell 1% | Vanguard S&P 500 Growth ETF price extended decline yesterday driven by recession fears after the 0.75% hike in interest rate by US central bank. |
Why is Facebook (Meta) share price falling?
Meta (Facebook) share price touched new 1-year low yesterday, reports of regulatory probe over users' tracking on iOS hurt sentiments.
Why is FedEx stock dropping?
FedEx share price touched a new 1-year low yesterday, down 30% since announcing weak revenue growth estimation for remaining year 2022.
Why did Amazon share price jump?
Amazon share price rose yesterday as the firm shared plans to launch another Prime Day in October - sharp jump in sales anticipated.
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