September 8, 2020

September 8, 2020

Stocks fell sharply today setting the three major indices up for a third straight session of losses as last week’s tech-led selloff continued.

 

Dow Jones finished -632 at 27,500

S&P 500 finished -95 at 3,331

NASDAQ finished -465 at 10,847

 

The 10 Year Treasury closed down 3 basis points yielding 0.68%

Oil prices closed down $2.89 ending at $36.88 a barrel

Gold prices closed up $6.20 ending at $1,940 an ounce

 

In the days’ stock news:

 

  • Shares of Peloton jumped more than 6% after the exercise equipment maker announced new products, including a lower-priced, high-tech treadmill and a more expensive bike option with a rotating screen.
  • Shares Boeing fell more than 5% after the company announced that inspections into production problems with the 787 Dreamliners would slow deliveries.
  • Tesla slid more than 21% after it was not added to the S&P 500, despite widespread speculation that it would be.

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