Stocks and commodities tumbled as China’s worsening Covid outbreak compounded fears sparked by faster Federal Reserve tightening. Bonds rose.The S&P 500 and Nasdaq 100 declined ahead of a busy earnings week for Big Tech. The Stoxx 600 Europe Index fell, with miners and energy firms at the forefront of losses. And West Texas Intermediate futures slid more than 5% to trade below $98 a barrel amid a rout in other raw materials.“This week may easily be a fork in the road of equities,” JC O’Hara, chief market technician at MKM Partners, wrote in a note. “We have nearly a third of the S&P 500 and half of the Dow Jones set to report. Bottom-up drivers will either confirm or reject what the challenging macro backdrop has given us over the last three weeks.”
Load More
Load More