The Nasdaq fell for three days, starting from Thursday, February 16th, and ending on Tuesday, February 22nd (closed on Monday). The decline on Thursday, February 16th: The opening was due to the PPI exceeding expectations, so it opened much lower, but during the trading session, by 2 or 3 in the morning, it almost recovered all the losses, and fell again at the end of the trading session around 3 in the morning. The decline at the end of the trading session was due to the hawkish speeches of Mester and Bullard, who mentioned the discussion of 50bp.
On Friday, the 17th, the Nasdaq fell 0.58%. As I mentioned before, this was because the 50bp rate hike in March was no longer possible. On Tuesday, the 21st, the Nasdaq fell 2.5%, mainly because the PMI exceeded expectations. Both the manufacturing and service industries rebounded beyond expectations, reinforcing everyone's concerns about the hawkish Fed.
Last night, on the 22nd, the Nasdaq rose 0.1% and was relatively stable during the session. The FOMC meeting minutes are the focus, and the results are neutral (some say slightly hawkish). In short, economic data exceeded expectations, and everyone is worried that the Fed will raise interest rates more aggressively. I think this logic is wrong, so I continue to be bullish on US stocks. Look at the Nasdaq's new high this year
