Prominent VC Warns Markets Could Fall ‘Quite A Bit More’
Posted: Thu May 12, 2022 3:45 am
After a nice upward move on the day of the Fed rate hike, the market has retreated sharply in the three subsequent sessions. The sell-off isn’t quite done yet, according to Redpoint Ventures. Fall Between Wednesday and Monday, the SPDR S&P 500 ETF Trust has lost over 7 percent. The weakness is starker when we consider the all-time high reached late last year. Since hitting a peak of 473.54, the SPY has pulled back about 16 percent. Future ‘Tense’ for Market The market could decline “quite a bit” more despite the plunge in software stocks from their recent highs, venture capitalist Tomasz Tunguz said in his weekly newsletter. ...
Source: https://www.theepochtimes.com/prominent ... 57880.html
Source: https://www.theepochtimes.com/prominent ... 57880.html