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Investors have lost confidence in the health of the global economy. Interest rates are declining, as is the price of oil and the stock market continues to fall.
Again, stocks opened higher in the morning but fell sharply in the afternoon. The "Entrepreneurs" index fell 2.83 percent today, with only two shares posting gains. The main indicators followed suit. The Dow and the S & P 500 fell 2.11 percent and 2.08 percent respectively, while the Nasdaq composite was down 2.27 percent. The three indicators are now technically in the correction zone – down more than 10 per cent from recent highs.
The Federal Reserve, which is expected to raise its federal funds rate by another quarter point at its meeting on Wednesday, is now eyeing attention. While President Trump and others in his administration continue to pressure the Federal Reserve to back down, a decision not to raise interest rates could now spoil the market. But investors are looking for an indication that the central bank will cut at least the number of interest rate increases it was due to make next year.
Tech stocks were hit today. Twitter, one of the most powerful stocks in the sector recently, fell by 6.8 percent – the biggest decline in the "Entrepreneurs" index. The company revealed that some user data has been exposed to Internet addresses in China and Saudi Arabia. Amazon (-4.46%), salesforce.com (-4.53%) and Cognizant Technology (-4.57%) showed significant declines during the day.
Tesla, another star during many recent volatility, also fell sharply, falling by 4.73%. Fears of slowing economic growth may be the biggest factor, but rivals such as Audi and Hyundai are also discovering electric cars that could pose problems for the market leader.
REITs have spread today, despite the fact that interest rates have fallen sharply. Investors are worried that the values of commercial real estate are going down if the economy slows. The biggest declines were announced by Macerich Company (-6.22%) and Kimco Realty (-5.84%). Boston Real Estate Office fell 4.53 percent.
Clothing makers also had a difficult day. Shares fell to. Brandes, Victoria's Secret clothing maker, rose 4.28 percent, while Gap fell 4.32 percent. Andnder Armor, which has fallen 25 percent so far this month, fell 3.11 percent today.
Other notable declines included Boston Scientific (-4.89%), TripAdvisor (-4.93%), Estee Lauder (-3.61%) and Tyson Foods (-3.31%).
The only two stocks in the Entrepreneur ™ index that recorded gains today were Alexion Pharmaceuticals and Analog Devices Devices. Were 0.09 percent higher and 0.05 percent respectively.
Entrepreneur ™ brings together a list of over 60 publicly traded companies managed and managed by entrepreneurs. Entrepreneurship is a valuable asset for any business, and this indicator recognizes its importance, regardless of the company's growth. These inspirational works can be tracked in real-time on Entrepreneur.com.