Ugly selloff in US pushes shares down most since 2020

Across the board selling sent the S&P 500 down more than 4%, while the tech-heavy Nasdaq 100 losses surpassed 5%. (Image: Getty)

Bloomberg

Wed, 14 Sep 2022

By Stephen KirklandA broad-based selloff sent equities to their worst day in more than two years after hotter-than-expected inflation data fuelled bets on a jumbo hike by the Federal Reserve next week. Treasury yields surged and the dollar gained.Across the board selling sent the S&P 500 down more than 4%, while the tech-heavy Nasdaq 100 losses surpassed 5% as yield-sensitive stocks took the biggest hit. Both benchmarks suffered their worst one-day routs since 2020. Swaps traders are now fully pricing in a rate increase of three-quarte...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets

Airports up in arms over blindside fresh regulatory review

Airports say if anything needs reviewing, it’s Air NZ’s regional routes monopoly.

Pattrick Smellie 5:00am

Policy

PPP no go for big Auckland busway bash

The Government is open to using a levy system to help pay for the Auckland busway.

Oliver Lewis 5:00am

Primary Sector

Possible Canterbury dairy conversion boom

High milk prices, rule changes and shifting land use priorities are driving interest.

Riley Kennedy 5:00am

Possible Canterbury dairy conversion boom

Sponsored

“Not an invisible footprint”: Why technology supply chains need optimising

Outdated hardware is a supply chain and cost risk.

Datacom

Sponsored

Bayleys Total Property Issue 3 out now

Backed by Bayleys’ national strength and global reach

Bayleys

More Markets

Primary Sector

Kevin O’Sullivan’s long game with Nui Markets

Could it be a billion-dollar business?

Riley Kennedy 5:00am

Markets

Airports up in arms over blindside fresh regulatory review

Airports say if anything needs reviewing, it’s Air NZ’s regional routes monopoly.

Pattrick Smellie 5:00am

Markets Market Close

NZ sharemarket up 0.5% ahead of long weekend

Pacific Edge's share price fell 7.32%.

Tom Raynel 24 Apr 2025

Markets

Pacific Edge suffers another setback in US

Shares in cancer diagnostics company Pacific Edge are down 2.44% to $0.120 after another setback in the US market.The US District Court for the Middle District of Pennsylvania has determined that it does not have jurisdiction to review a Local Coverage Determination (LCD) that co...

Staff reporters 24 Apr 2025

Ugly selloff in US pushes shares down most since 2020

More Markets

Your company has a subscription

Team