- January 4, 2023
- Posted by: Stratford Team
- Category: Economy
London
CNN
—
European and Asian stocks pushed higher on the first major trading day of 2023 as investors try to look beyond a gloomy outlook for the world economy, China’s worst Covid outbreak and stubbornly high inflation in Europe.
But after a positive start, Wall Street succumbed to fear again. The S&P 500 gained 0.4% in early trading Tuesday, while the Nasdaq Composite was up 0.8%. By midday, however, both indexes were trading weaker, down 0.3% and 1.2% respectively.
Shares of Tesla
(TSLA) plunged more than 13% after the electric car giant reported weaker than expected global sales for the fourth quarter. Apple sank 3.8%, bringing its market cap to $2 trillion. An impressive number, for sure, but about $1 trillion less than its valuation at this time last year.
Europe’s Stoxx 600 index rose 1.2% by 12.10…
