Weekly Market Update (May 22, 2022)
HIGHLIGHTS
US stock continued its downward trajectory with a biggest one-day decline since June 2020 on Wednesday. This week, NASDAQ fell more than 3%, and 2.32% for S&P 500 due to inflation and supply chain issues. Investors were spooked by the earning reports released by the US retailers. Walmart reported a lower than expected quarter earning result on Tuesday while Target mentioned rising cost for fuels, freight, wages and logistics would impact profit margins.
MARKETS
| Nasdaq | 11,835.62 | -3.37% |
| S&P 500 | 3901.35 | -2.32% |
| Dow | 31,261.91 | -2.32% |
| 10-Year | 2.79% | -10bps |
| Brent Oil | 112.98 | +1.09% |
*Data as of market close. 5-day change ending on Friday.