![]() ![]() ![]() Throughout this time, Vipshops and most other Chinese companies suffered. In fact, at times, Chinese President Xi was willing to allow the Chinese economy to come to a screeching halt to tamp down coronavirus cases. China had one of the most stringent COVID-19 lockdown policies in the entire world. ![]() One stock within the group setting up is Vipshops. Internet – Delivery Service Industry: This small yet mighty industry group is ranked in the top 2% of all groups tracked by Zacks. Small caps are testing December lows while tech stocks reversed near seven-month highs.ġ. Presently, there is a significant dichotomy between the tech-heavy Nasdaq and the small-cap Russell. Small caps never rallied in sync with the other indices after Powell's bullish comments – a clear sign of weakness. However, the biggest loser was the regional-bank heavy iShares Russell 2000 ETF. The result is that the QQQ finished down nearly 1.5%. In other words, depositors will not be covered above the $250,000 guaranteed by the FDIC should a bank fail. Later, she spooked markets further by divulging that the treasury is not considering a broad increase in deposit insurance. Yellen first warned that situations like the bank run on Silicon Valley Bank might be more likely to happen in the future. ![]() Nevertheless, Secretary of the Treasury Janet Yellen put a later damper on equities. As Powell wrapped up his comments, stocks looked poised to finish strongly. However, he later stated that the Fed decided to hike interest rates based on "consensus" opinions. Initially, the Nasdaq 100 ETF ripped higher by nearly 2% after Fed Chairman Jay Powell said that "we considered an interest rate pause" after the collapse of several regional banks. The nine straight hikes equate to the longest streak since the one that occurred in the three years preceding 2018. The rate hike brings the expected Fed funds rate to between 4.75 to 5 – the loftiest levels since 2007, before the financial crisis. equities swung wildly in both directions but ultimately finished lower after the Federal Reserve hiked interest rates by 25 basis points. 3 Top Industry Groups to Help Cut Through the Macro Noise Market Overview Chicago, IL – Ma– Today, Zacks Investment Ideas feature highlights Silicon Valley Bank SIVB, iShares Russell 2000 ETF (IWM, Vipshops VIPS, Airbnb ABNB and Deere DE. ![]()
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