Stocks

  Bloomberg Snap Inc plunged 43%, posting its biggest-ever one-day drop and dragging down social media peers, after the company cut its revenue and profit forecasts, blaming the weaker economic outlook for a sudden slowdown of its advertising business. “We continue to face rising inflation and interest rates, supply chain shortages and labour disruptions, platform policy changes, the impact of ...

  Bloomberg Stocks declined on Tuesday after a profit warning from Snap Inc weighed on technology shares and fuelled concerns about risks to economic growth. Tech shares were among the worst performers in Europe’s Stoxx 600, while Nasdaq 100 futures tumbled more than 2% and Chinese tech stocks by more than 4%. S&P 500 futures fall, just as the benchmark ...

Bloomberg The selloff in equities will reach a bottom once the Federal Reserve signals the end of tightening, which may not happen until recession is apparent, according to Goldman Sachs Group Inc. “It may be necessary for the market to become more confident than it is that financial conditions tightening has been sufficient and that the Fed has delivered and ...

  Bloomberg The wreckage of a $5 trillion rout in emerging markets is starting to look like a buying opportunity to some intrepid investors. The pain points are all too obvious: Stocks have fallen below their average valuations of the past 17 years. Local-currency bond yields have soared through a range that’s held since the 2008 crisis. Spreads on dollar ...

Bloomberg Even as the S&P 500 narrowly avoided plunging into a bear market, Morgan Stanley strategists say it’s too early to turn optimistic on stocks. “Equity clients are bearish, a necessary condition for a sustainable low, but an insufficient one,” strategists led by Michael Wilson wrote in a note on Monday. “Given the risks to growth are just emerging, it’s ...

  Bloomberg Investors fled every major asset class in the past week, with US equities and Treasuries a rare exception to the massive exodus, amid concerns that tightening monetary policy will push major economies into a recession. Equity funds had $5.2 billion outflows in the week to May 18, led by redemptions from mutual funds, according to Bank of America ...

  Bloomberg China’s almost-trillion dollar hedge fund industry risks worsening the turmoil in its stock market as deepening portfolio losses trigger forced selling by some managers. About 2,350 stock-related hedge funds last month dropped below a threshold that typically activates clauses requiring them to slash exposures, with many headed towards a level that mandates liquidation, according to an industry data ...

  Bloomberg European stocks extended declines as a sharp selloff in US equities fuelled concerns of an economic slowdown and further dented demand for risk assets. The Stoxx Europe 600 Index was down 2% as of 10:01 am in London after the S&P 500 posted its biggest drop in almost two years. Personal care stocks were the biggest decliners, followed ...

  Bloomberg US stock investors are pricing in stronger odds of a recession than are evident from positive macroeconomic indicators, according to Goldman Sachs Group Inc strategists. “A recession is not inevitable,” Goldman strategists led by David Kostin wrote in a note. “Rotations within the US equity market indicate that investors are pricing elevated odds of a downturn compared with ...

Bloomberg Chinese stocks closed lower after rallying in the previous session as traders assessed fresh support pledges from Vice Premier Liu He for the battered tech sector. The Hang Seng Tech Index pared earlier declines to end 0.3% lower in Hong Kong. The benchmark Hang Seng Index eked out gains, while China’s CSI 300 Index trimmed losses to 0.4%. Automakers ...