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Nasdaq records first five-week losing streak since 2012

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Traders are working during the New York Stock Exchange’s (NYSE) opening bell on March 19, 2020, at Wall Street, New York City. – US stocks open mix, Dow –0.4%, Nasdaq –0.1% (Photoby Johannes EISELE / AFP). Photo by JOHANNES EISELE/AFP via Getty Images

JOHANNESEISELE | AFP | Getty Images

The Nasdaq CompositeOn Friday, the Dow dropped 1.40% to $12.144.66 for the fifth consecutive week. This marks its first loss streak of less than five weeks since 2012.

The Fed increased interest rates by 0.5% over the week and again warned of the dangers.much too highMarkets were rattled by “inflation. A day after the Fed meeting, Thursday saw the Nasdaq drop by more than 5%

Investor sentiment has changed significantly towards growth stocks since the tech-rich Nasdaq collapsed in 2020 and 2021.

Investors are being forced to review some stocks that have been at the top of their game over the last few years due to inflation concerns and Fed hikes.

Nasdaq Composite’s peak was Nov. 19, at $16,057.44. Since then, it has seen a nearly 25% decline in its value.

Stocks that had reported earnings in the past week saw the largest falls. LyftThe quarter ended with a 36% drop after weak guidance. Bill.comAfter reporting slower revenue growth, the slumped 28% CloudflareAfter predicting a loss of 24% in the current quarter’s forecast, it fell 24% ConfluentFollowing growth that was below the expectations of analysts, it fell by 23%

The index saw some of its top companies drop during this week. AmazonThe decline was more than 6% MicrosoftIt has lost less than 1% of its original value. AppleStocks were up by 0.2% after last week’s report that the company was concerned more about supply shocks and consumer demand.

The Nasdaq composite has lost at least 4 weeks in the past ten occasions. Six consecutive weeks of decline for the Nasdaq in November and October 2012 were experienced.

Also, the Nasdaq has its worst quarter-end performance in three years.

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