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Nasdaq slides 2% as Facebook tumbles and Fed gets set to hike

Published 03/19/2018, 12:47 PM
© Reuters.  Nasdaq slides 2% as Facebook tumbles and Fed gets set to hike
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  • Facebook (NASDAQ:FB) is down more than 7% on renewed questions about the use of customer data. It's helping the Nasdaq (NASDAQ:QQQ) to a 2.2% loss at midday.
  • Meanwhile, the FOMC meets midweek and is fully expected to lift the Fed Funds rate by another 25 basis points. Markets will also be treated to a post-meeting press conference with new Fed boss Jay Powell. The S&P 500 (NYSEARCA:SPY) is down 1.5% and Dow (NYSEARCA:DIA) 1.3%.
  • Fixed-income, thus far, isn't seeing much benefit from the selloff, with the 10-year Treasury yield flat at 2.83%. TLT, TBT flat.
  • Seeing great benefit, though, is the VIX with a 26% gain.
  • ETFs: VXX, UVXY, XIV, TVIX, SVXY, VIXY, ZIV, VXZ, VIXM, VMAX, VMIN, VIIX, CVOL, XVZ, TVIZ, XXV, IVOP, VIIZ
  • Now read: Which VIX Spikes May Kill SVXY And ZIV?


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