Wall Street's main indexes were set to open higher on Tuesday, with investors buying into beaten-down banks and megacap growth stocks after a three-day selloff on concerns around aggressive monetary tightening and slowing economic growth.
Both the indexes have dropped about 16% and 26%, respectively, this year due to the war in Ukraine, China's COVID-19 lockdowns roiling global supply chains and rising bond yields as traders adjust to higher U.S. interest rates.
"So investors, in a sense, are searching for a catalyst right now to indicate that either the worst is behind us or there's more pain ahead."
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street, dragged down by tech stocks, racks up more heavy losses
Read more »
Wall Street tumbles toward lowest point in more than a year as markets tumble worldwideMost of the damage has been the result of the Federal Reserve's aggressive flip away from doing everything it can to prop up financial markets.
Read more »
AMC Shares Rise After Results Outpace Wall Street ExpectationsAMC Entertainment posted a narrower-than-expected loss during the first quarter.
Read more »
Asia-Pacific stocks set for opening declines following Wall Street tumbleOvernight stateside, the tech-heavy Nasdaq Composite dropped more than 4% as shares on Wall Street fell.
Read more »
Fed survey finds new fear on Wall Street: Foreign divestment of U.S. assetsWall Street has started to worry about foreign divestment of U.S. assets, according to a Federal Reserve survey released Monday.
Read more »
Asian markets follow Wall Street lower on economic fearsAsian stocks followed Wall Street lower Tuesday as fears increased that U.S. rate hikes to fight inflation might stall economic growth.
Read more »