“Tanking” – Vista Partners Daily Market Recap 11/20/2018
US stocks tanked on Tuesday, as Monday’s sell-off continued. The S&P 500 sank 1.82% (48.84 points) while the Nasdaq fared about the same with a loss of 1.7% (119.6 points). The Dow had the worst day of the three, as it plummeted 2.21% (551.8 points).
Individual components of the Dow were down across the board, with every single stock ending the day in the red. The biggest losers were Apple (AAPL) with a loss of 4.78%, Goldman Sachs (GS) which sank 3.47%, and Walt Disney (DIS) with shares declining 3.08%.
Atossa Genetics (ATOS) shined today against a gloomy backdrop as it gained a whopping 9.48% for the day.
Our TVIX and TZA ETF leveraged bets against the broad markets and the Russell 2000 were once again up respectively 11.64% and 5.79%.
The markets losses today mean that both the Dow and the S&P 500 are in the negative for the year. The tech sector has been one of the major culprits in the declines, as each of the FANG components are down nearly 20% from their year highs.
According to Chris Zaccarelli, the chief investment officer of Independent Advisor Alliance, their are several factors working against the tech sector. “Tech continues to be caught in the crosshairs of the triple threat of rising interest rates, global growth fears, and trade tensions with China.”
Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.
Stay Informed! Stay Competitive!