Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.

US stocks extended losses for the third trading day


Wall Street continue to fall for the third trading day as the dip-buying attempts were short-lived in the technology sector. The Dow Jones Industrial Average declined 0.82%, the S&P 500 slid 1.11%, and Nasdaq declined 1.3%. Nasdaq gave up the early 2% gain and closed below the 200-day moving average for the second trading day. The selloff accelerated in the final hour. The tech-heavily weighted index fell 10% from the all-time high in November. 

Peloton stocks plunged 24% on the news of some temporary production halting due to low demands. United Airlines shares fell 2.54% after the major carrier indicated a higher-than-expected decline in the first quarter amid omicron woes. Netflix was lower ahead of its fourth-quarter earnings report after the market close. 

On the economic data front, the US jobless claims last week rose to 286,000, the highest in three months, which signals that the omicron variant is dragging on the labor market. The existing home sales also increased less than consensus.

The broader US bond yields stay at higher levels amid the Fed's guidance to accelerate scaling back in its asset tapering and sooner rate hikes. The 2-year US Treasury yield was at 1.047%, and the 10-year Treasury yield was down slightly lower to 1.824%.

The WTI futures price slid 0.25%, to $86.29 per barrel. The gold future fell $4.9, to $1,838.7 per ounce.

The VIX rose 7.5%, to 25.64.

Disclaimer: CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.