U.S. Stock Market U-Turns from the Brink in Volatile Trading
Posted on 01/25/2022
Stocks made a dramatic comeback on January 24, 2022 as investors stepped in and bought the dip. Ravaged U.S. technology stocks were purchased later in the trading day following a sharp sell-off earlier in the day. The S&P 500 finished higher by 0.3% at 4,410.13. The Nasdaq Composite gained 0.6% at 13,855.13. The day session was the first time since the aftermath of the global financial crisis in 2008 that the Nasdaq Composite had been down more than 4% on the session and closed up. For many short-term investors, the greatest fear is how the Federal Reserve reacts and keeps this balancing act.
The SPDR S&P 500 ETF Trust ($SPY) traded around US$ 103.178 billion worth of shares for only the second time ever. The other time recorded was on March 2, 2020.
The Invesco QQQ Trust Series ($QQQ) beat its record with US$ 66.194 billion.
The combination of both total circa US$ 170 billion.
