Weird market reactions? Tech stocks in retreat.

stocks gave up gains early Wednesday following stronger-than-expected numbers from the U.S. manufacturing sector.
So why the negative market moves?

All three major stock indexes turned negative about 80 minutes into the trading day.

The S&P 500 and the Dow both lost as much as 0.7% while the Nasdaq was off as much as 0.3%.

Data from the Institute for Supply Management showed the U.S. manufacturing sector grew faster-than-expected in May! Great sigh right?

So why is the market down when this is another signal that fears of an imminent downturn in the U.S. economy may be overblown.

I think that recession 2022 has already begun.

Manufacturing data was quickly followed by headlines from Dimon, who told Bernstein's Strategic Decisions Conference the U.S. economy is facing a "hurricane" as the Federal Reserve continues its process of normalizing interest rates.

Видео Weird market reactions? Tech stocks in retreat. канала Fighting Words Financial