The latest pullback in US stocks, a few weeks after their wobble in October, underscores how stretched the market has become and how sensitive it is to unfavorable news.
Risk assets moderated their slide on Wednesday, following the steepest drops in both the S&P 500 Index and Nasdaq 100 since Oct. 10. While there was no single catalyst for the slump, traders pointed to range of extended metrics that provided an easy trigger for a bout of profit taking.
Concerns about an ever-narrowing cohort of stocks driving the gains have become louder, while a hawkish pivot in Federal Reserve commentary ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.