Benzinga · Dec 15, 2022
Dow Tumbles Over 500 Points; ECB Raises Rates By 50 bps
U.S. stocks traded lower this morning, with the Dow Jones dropping more than 500 points after the Federal Reserve raised interest rates by 50 bps on Wednesday. Following the market opening Thursday, the Dow traded down 1.62% to 33,417.56 while the NASDAQ fell 1.97% to 10,951.28. The S&P 500 also fell, dropping, 1.71% to 3,927.00. Also check this: DSS And 3 Other Stocks Under $1 Insiders Are Aggressively Buying Leading and Lagging Sectors Utilities shares fell by just 0.5% on Thursday. Meanwhile, top gainers in the sector included Genie Energy Ltd. (NYSE: GNE), up 2%, and Azure Power Global Limited (NYSE: AZRE), up 4%. In trading on Thursday, information technology shares tumbled by 2.4%. Top Headline The ECB increased interest rates by 50 bps during its latest meeting, announcing a fourth rate hike. Equities Trading UP Clearmind Medicine Inc. (NASDAQ: CMND) shares shot up 36% to $4.33. Clearmind Medicine’s CEO, Dr. Adi Zuloff-Shani, issued a letter to shareholders. Shares of IMV Inc. (NASDAQ: IMV) got a boost, shooting 31% to $2.82 after the company announced initial data from the ongoing Phase 2B VITALIZE trial in patients with r/r DLBCL. Icosavax, Inc. (NASDAQ: ICVX) shares were also up, gaining 27% to $11.35. Icosavax shares jumped 112% on Wednesday after the company provided a six-month immunogenicity update from its Phase 1/1b ...
