economy
3 themes that gripped Wall Street as stocks dropped for a 4th straight week
The Iran War and fresh economic data stoked inflation concerns.
TL;DR
- The S&P 500, Nasdaq, and Dow all suffered their fourth consecutive week of losses.
- Geopolitical concerns stemming from the Iran war and rising oil prices have impacted market recovery.
- Hot wholesale inflation data, with the producer price index rising 0.7% in February, exacerbated economic worries.
- A global memory shortage, highlighted by Micron's earnings report, is affecting hardware companies.
- Nvidia's GTC event had bullish announcements regarding future chip orders, but its stock saw a decline.
- The Investing Club bought shares of Goldman Sachs, Boeing, Wells Fargo, and Cardinal Health, believing they were unfairly punished.