Week of 02/06-02/10 Markets Tumble on weak stock price action
- Tradeknow

- Feb 14, 2023
- 1 min read
Updated: Nov 3, 2023

All three major indices fell to finish the week in the red as bulls worry that the federal reserve might of kept high interest rates for too long. The bull run reversal comes down with worries to investors of a recession as stocks give up their earning season gains. This week marks the worst week for the stock market this year as the SPY approaches the 400 point level again to retest resistance. Tesla has been one of the most volatile names this week rallying to 200dlls and giving back some gains by the end of the week. LYFT fell over 30% on below earning expectations followed by Expedia falling 9% and Adidas dealing with a billion dollar problem by not being able to sell the famous Yeezy collection. There was no other major news this week and it seems like "no news is bad news" as markets react negatively. Wall street will be vigilant on the CPI (Consumer Price Index) report next Tuesday to get a feeling of where the market is headed.

