Dow, Nasdaq triple digits as market rout deepens
The Dow lost 222 points at the midpoint
Stock sell-off intensifies as Federal Reserve Chairman jackson hole discordant speech continues to send waves through Wall Street. At last glance, the Dow Jones Industrial Average (DJI) is down 222 points, adding insult to injury to Friday’s more than 1,000 points. Meanwhile, the S&P 500 (SPX) also suffered a notable loss, while the Nasdaq Composite (IXIC) lost triple digits as chip stocks led the tech rout.
Keep reading to learn more about the current market, including:
- netflix shares pricing details for the new service.
- Where this pharmaceutical stock could see some weakness next year.
- Moreover, the PDD appears at the rate of the benefits; NERV continues an impressive rally; and AZRE deals with the CEO’s sudden resignation.
Pinduoduo Inc – ADR (NASDAQ:PDD) sees an increase in options activity today, with 84,000 calls and 41,000 puts traded so far, eight times the intraday average. The most popular position is the weekly 9/2 70-strike call, followed by the September 70 call, with open positions in both. PDD was last seen rising 24.2% to $71.32 after the China-based e-commerce company reported better-than-expected Q2 earnings and revenue. PDD is trading at its highest level since late November and now shows a 21.3% year-to-date advance.
Minerva Neurosciences Inc (NASDAQ: NERV) is one of the best stocks on the Nasdaq today, up 24.1% last seen at $12.82. The stock saw wild price action in the days after the company filed an NDA for its roluperidone treatment for patients with schizophrenia on Monday, August 22. A few days later, Point72 Asset Management disclosed an 8.8% passive stake in the company. . NERV staged a rally from $3, with further support at the 30-day moving average early last week, and earlier hit a nearly 10-month high of $13.38.
Azure Power Global Ltd (NYSE: AZRE) is one of the worst stocks on the New York Stock Exchange (NYSE). AZRE was seen down 40.8% to $6.20 at last check, following news of the sudden resignation of Indian solar company CEO Harsh Shah after taking over the company on July, 1st. bottom at the $10.50 level.