Market Updates
Nasdaq Drops 2.2%, Mortgage Rate Crosses 5%
Barry Adams
05 Apr, 2022
New York City
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U.S. indexes fell 1% and Nasdaq Composite dropped 2.2% after a dovish Fed Governor said that the central bank needed an aggressive approach in tackling inflation. 10-year U.S. bond closed at 2.55%, a 3-year high, and 5-year at 2.70%. Inflation worries drove the market sentiment and tech stocks took the hit. The 30-year mortgage rate crossed 5% for the first time since 2011 and two days in 2018.
Annual Returns
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Earnings
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