Nasdaq extends fall to fourth day on Netflix letdown

US Stocks: Nasdaq extends fall to fourth day on Netflix letdown - Reuters

21/1/2022 8:42:00 PM

US Stocks: Nasdaq extends fall to fourth day on Netflix letdown - Reuters

(Jan 21): Wall Street's main indexes fell on Friday, with the Nasdaq set for its fourth straight day of declines after a weak forecast from Netflix sent its shares along with other streaming companies spiraling lower.Netflix Inc plunged 21.6% after missing market forecast for new subscribers at the end of last year and a downbeat outlook for early 2022.Other technology and media companies including Walt Disney Co, ViacomCBS and Roku that have invested heavily in streaming also fell between

(Jan 21): Wall Street's main indexes fell on Friday, with the Nasdaq set for its fourth straight day of declines after a weak forecast from Netflix sent its shares along with other streaming companies spiraling lower.Netflix Inc plunged 21.6% after missing market forecast for new subscribers at the end of last year and a downbeat outlook for early 2022.

Other technology and media companies including Walt Disney Co, ViacomCBS and Roku that have invested heavily in streaming also fell between 4.7% and 5.0%.Seven of the 11 major S&P 500 sectors fell, with communication services down 2.1% at an eight-month low.

Read more: The Edge Malaysia »

Wall Street sell-off deepens, Nasdaq confirms correctionNEW YORK/BENGALURU (Jan 20): Wall Street's main indices ended sharply lower on Wednesday (Jan 19), with the tech-heavy Nasdaq confirming it was in a correction, after a diverse set of corporate earnings and as investors continued to worry about higher US Treasury yields and the US Federal Reserve (Fed) tightening monetary policy.The Nasdaq ended down 10.7% from its Nov 19 closing record high as stocks sold off into the market close. A correction is confirmed when an index closes 10% or more

Wall Street sell-off deepens, Nasdaq confirms correction | Malay MailNEW YORK, Jan 20 ― Wall Street's main indexes ended sharply lower yesterday, with the tech-heavy Nasdaq confirming it was in a correction, after a diverse set of corporate earnings and as investors continued to worry about higher US Treasury yields and the Federal Reserve tightening monetary...

Quarantine for boosted visitors reduced to 5 days, Khairy says | The Malaysian InsightHealth minister says travellers must take tests before and upon arrival, as well as on fourth day. Talk only lah, it is so HAPRAK to go through the sistem.

Wall Street sell-off deepens, Nasdaq confirms correctionNEW YORK/BENGALURU (Jan 20): Wall Street's main indices ended sharply lower on Wednesday (Jan 19), with the tech-heavy Nasdaq confirming it was in a correction, after a diverse set of corporate earnings and as investors continued to worry about higher US Treasury yields and the US Federal Reserve (Fed) tightening monetary policy.The Nasdaq ended down 10.7% from its Nov 19 closing record high as stocks sold off into the market close. A correction is confirmed when an index closes 10% or more

Wall Street sell-off deepens, Nasdaq confirms correction | Malay MailNEW YORK, Jan 20 ― Wall Street's main indexes ended sharply lower yesterday, with the tech-heavy Nasdaq confirming it was in a correction, after a diverse set of corporate earnings and as investors continued to worry about higher US Treasury yields and the Federal Reserve tightening monetary...

Implementation of extended producer responsibility initiative among solutions to post-consumer waste issues, says minister | Malay MailSHAH ALAM, Jan 21 — The implementation of the mandatory Extended Producer Responsibility (EPR) initiative is among the core strategies identified in the Malaysian Plastics Conservation Framework 2021-2030 in the country’s effort to find a solution to post-consumer wastes including plastics....

A (Jan 21): Wall Street's main indexes fell on Friday, with the Nasdaq set for its fourth straight day of declines after a weak forecast from Netflix sent its shares along with other streaming companies spiraling lower. Netflix Inc plunged 21.6% after missing market forecast for new subscribers at the end of last year and a downbeat outlook for early 2022. Other technology and media companies including Walt Disney Co, ViacomCBS and Roku that have invested heavily in streaming also fell between 4.7% and 5.0%. Seven of the 11 major S&P 500 sectors fell, with communication services down 2.1% at an eight-month low. Analysts on Thursday raised doubts about business prospects of pandemic market favorites including Netflix and Peloton Interactive. However, shares of Peloton bounced from the previous day's fall, jumping 11.5% after its chief executive denied a report that the exercise bike maker was halting some production and raised second-quarter revenue forecast. "The pandemic winners are under pressure and that will likely continue. If everybody already has Netflix, it's hard to improve subscriber growth," said John Lynch, chief investment officer for Comerica Wealth Management in Charlotte, North Carolina. "Perhaps investors' expectations were a little stretched." Megacap growth companies such as Microsoft, Tesla and Apple are scheduled to report their results next week. Wall Street's main indexes tracked at least their third straight weekly declines, with the Nasdaq Composite set for its worst week since March 2020. The Nasdaq on Wednesday closed more than 10% below its all-time high hit in November, confirming it was in correction territory. The tech-heavy index has come under pressure after rising Treasury yields and expectations of a more aggressive Federal Reserve in controlling inflation hit growth shares. The central bank's policy meeting next week will offer more clarity on its tightening policy, after data earlier this month showed consumer prices rising to 40-year highs in December. "While the selling seems to have slowed for now, the prospect of a week filled with big earnings and a crucial Fed meeting means there might not be a rush to buy the dip just yet," said Chris Beauchamp, chief market analyst at online trading platform IG. At 11.56am ET, the Dow Jones Industrial Average was down 82.19 points, or 0.24%, at 34,633.20, the S&P 500 was down 28.02 points, or 0.63%, at 4,454.71 and the Nasdaq Composite was down 150.30 points, or 1.06%, at 14,003.72. Single stock options totaling about US$1.28 trillion were set to expire, potentially driving sharp market movements and impacting stocks that have very large call positions like Apple and Tesla. Bitcoin fell sharply, tracking other riskier assets and Russia's proposal to ban the use and mining of cryptocurrencies, dragging down crypto-linked stocks like Hut 8 Mining and Coinbase Global more than 10%. Declining issues outnumbered advancers for a 1.91-to-1 ratio on the NYSE and for a 2.14-to-1 ratio on the Nasdaq. The S&P index recorded five new 52-week highs and 22 new lows, while the Nasdaq recorded 10 new highs and 914 new lows. Subscribe to Mid-day email alert We deliver news to your inbox daily