Stocks erase losses in wild ride, Dow cuts 1,000+ point loss
Jeff Sica of Circle Squared Alternative Investments argues Investors need to be more ‘cautious’ and ‘diligent’ when deciding where to invest their money.
It was a wild session on Wall Street, with big market swings, as investors assessed Russia’s military buildup on Ukraine’s borders and the Federal Reserve’s meeting this week which begins tomorrow.
The Dow Jones Industrial Average closed with a gain of 101 points or 0.3% erasing a 1,000+ point drop. The S&P 500 also curbed all losses to end 0.3% higher and the Nasdaq Composite, at one point down nearly 5%, rose 0.6%.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 34364.5 | +99.13 | +0.29% |
| SP500 | S&P 500 | 4410.13 | +12.19 | +0.28% |
| I:COMP | NASDAQ COMPOSITE INDEX | 13855.129489 | +86.21 | +0.63% |
“We are now dealing with legitimate risk in the market,” said Jeff Sica, CIO of Circle Squared Alternative Investments.
Consumer discretionary and energy stocks led the rebound even
