Miscellaneous News

Equation

Lieutenant General
Don't forget to howl at the new blood moon.;):p

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solarz

Brigadier
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The rush to get out of U.S. tech stocks entered its third day Monday as concerns mounted over how the storied FAANG bloc will fare amid rising interest rates and slower growth.



All of the FAANGs retreated, with Facebook Inc. sinking 3.3 percent and Netflix Inc. falling as much as 5.3 percent. The FANG index retreated 2.5 percent, widening its three-day loss to 9 percent. This compares with a 1.4 percent loss for the S&P 500 over the same time.



Investors have been bailing from the space since the Facebook’s earnings hit July 25, prompting the biggest market-cap decline in U.S. history. Market darlings since the 2016 presidential election, the group of tech megacaps has seen investors heading for exits with the advance seen as having gone too far, too fast.



“Sentiment is turning sour in FANG, especially after earnings,” Michael Antonelli, an institutional equity sales trader and managing director at Robert W. Baird & Co, said in an email. “They are dragging the Nasdaq 100 down by its feet.”



The selloff has widened losses in the S&P 500 Information Technology Index to 5.2 percent, the biggest three-day retreat since March. The rout erased $240 billion from the market capitalization of the S&P 500 Information Technology Index to $6.3 trillion, from $6.6 trillion before Facebook reported a miss on its user growth.

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Sentiment on the tech megacaps has soured since Wednesday, when Facebook reported disappointing second-quarter user growth that knocked the stock down 19 percent. To Bank of America’s Michael Hartnett, a rout in Facebook signaled a peak in tech megacaps, prompting him to recommend clients
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Support is wearing thin for technology companies. The S&P 500 Information Technology Index fell below its 50-day moving average on Monday, while the Nasdaq Composite Index and the Nasdaq 100 Index hover near that level. Investors last week pulled $1.4 billion from the largest exchange-traded fund tracking the Nasdaq 100 Index last week in the biggest withdrawal in seven weeks.

Could this be the precursor to a new recession?
 

Equation

Lieutenant General
This just in. My condolences to the victims families.:(:eek:
Massive explosion kills at least 2, rips huge hole in highway outside Bologna, Italy
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BEN GITTLESON and PHOEBE NATANSON,ABC News 1 hour 9 minutes ago
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originally appeared on
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Italian police said at least two people were killed and 67 injured in a massive explosion that ripped a huge hole in a highway near an airport in northern
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.

Video and photos from witnesses showed a massive fireball shooting into the air on a highway in the suburbs of Bologna on Tuesday afternoon.



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now noticed
California fire explodes in size, is now largest in state history
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"Altogether, the Mendocino Complex Fire has burned 283,800 acres ...."

283800 acres is about 1148 square kilometers; if a square, its size would be about 34 kilometers! I briefly checked:

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"a surface
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of 43,785 acres"

and:
Dj2XKeVUcAAb6Qr.jpg


so the wildfire is really that big!
 

B.I.B.

Captain
now noticed
California fire explodes in size, is now largest in state history
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"Altogether, the Mendocino Complex Fire has burned 283,800 acres ...."

283800 acres is about 1148 square kilometers; if a square, its size would be about 34 kilometers! I briefly checked:

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"a surface
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of 43,785 acres"

and:
Dj2XKeVUcAAb6Qr.jpg


so the wildfire is really that big!
Did the fire start naturally, or was helped by arsonists I wonder.
 
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