A broad cross section of stocks stumbled on Tuesday, as market watchers focused on deteriorating macroeconomic conditions and the potential that things could get worse before they get better. E-commerce platform Amazon (NASDAQ: AMZN) stock was down as much as 2.3% on Tuesday morning, mobile games platform Skillz (NYSE: SKLZ) slipped as much as 5.1% and online used car retailer Carvana (NYSE: CVNA) was off by as much as 6.7%. There was very little in the way of company-specific news behind the sell-off, but fears regarding the faltering economy intensified as investors weighed the possibility that they could be facing higher inflation and the potential for a prolonged recession. Read More...
A broad cross section of stocks stumbled on Tuesday, as market watchers focused on deteriorating macroeconomic conditions and the potential that things could get worse before they get better. E-commerce platform Amazon (NASDAQ: AMZN) stock was down as much as 2.3% on Tuesday morning, mobile games platform Skillz (NYSE: SKLZ) slipped as much as 5.1% and online used car retailer Carvana (NYSE: CVNA) was off by as much as 6.7%. There was very little in the way of company-specific news behind the sell-off, but fears regarding the faltering economy intensified as investors weighed the possibility that they could be facing higher inflation and the potential for a prolonged recession.
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