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Friday 8 June 2018

Nasdaq is down and everyone is fleeing from FANG companies

US indices traded mixed yesterday, which is definitely a cause for concern. Technological Nasdaq Composite and Nasdaq 100 continued with their decline after new record highs reached, while Dow Jones rose.
The Nasdaq 100 Index declined for the first time in five days, with investors dumping and selling shares in the FANG group and targeting the stocks of the banking companies.
Interest rates on 10-year US bonds continue to keep below the psychological limit of 3%, but according to market observers the expected almost 100% rise in interest rates in June begins to weigh above the market and indices.
The Stoxx Europe 600 Index returned its earlier earnings yesterday after disappointing factory orders in Germany. The euro appreciated as a result of rising expectations for the end of monetary stimulus in the euro area.


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