NEW YORK, NY / ACCESSWIRE / October 11, 2018 / U.S. equities continued to tumble on Wednesday on rising yields and interest rates. Additionally, weakening tech stocks pressured the S&P 500 to its worst daily drop since February, while the Dow Jones fell over 800 points. The Dow Jones Industrial Average declined 3.15 percent to close at 25,598.74, while the S&P 500 Index decreased 3.29 percent to close at 2,785.68. The Nasdaq Composite Index closed down 4.08 percent to close at 7,422.05.
“Sentiment is mixed, spurred by rising interest rates and a general heightened degree of investment difficulty,” according to Terry Sandven, chief equity strategist at U.S. Bank Wealth Management.
“Bonds matter, trade policy remains a work in progress and the midterm elections are less than one month away. As interest rates trend higher, bonds become a more viable alternative to equities and valuation multiples tend to become compressed,” Sandven added.
RDI Initiates Coverage on:
NVIDIA Corporation
https://rdinvesting.com/news/?ticker=NVDA
Advanced Micro Devices, Inc.
https://rdinvesting.com/news/?ticker=AMD
NVIDIA's stock moved 7.48% lower Wednesday, to close the day at $245.69. The stock recorded a trading volume of 15,993,847 shares, which was above its three months average volume of 9,583,776 shares. In the last year, NVIDIA's shares have traded in a range of 180.58 - 292.76. The share price has gained 36.06% from its 52 week low. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $272.91 is above its 200-day moving average of $252.21. Shares of the company are trading at a Price to Earnings ratio of 35.81. Shares of NVIDIA have fallen roughly 10.57 percent in the past month and are up 26.97 percent year-to-date.
Access RDI's NVIDIA Corporation Research Report at:
https://rdinvesting.com/news/?ticker=NVDA
On Wednesday, shares of Advanced Micro Devices recorded a trading volume of 143,365,080 shares, which was above the three months average volume of 112,361,333 shares. The stock ended the day 8.22% lower at $25.00. The share price has fallen 26.77% from its 52 week high with a 52 week trading range of 9.04 - 34.14. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $28.48 is above its 200-day moving average of $17.92. Shares of the company are trading at a Price to Earnings ratio of 86.51. Shares of Advanced Micro Devices have fallen roughly 16.36 percent in the past month and are up 143.19 percent year-to-date.
Access RDI's Advanced Micro Devices, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=AMD
Our Actionable Research on NVIDIA Corporation (NASDAQ:NVDA) and Advanced Micro Devices, Inc. (NASDAQ:AMD) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com