Markets sold off around the world on mounting signs the global economy is weakening just as central banks raise the pressure even more with additional hikes to interest rates.
The Dow Jones Industrial Average closed at its lowest point of the year Friday. The S&P 500 fell 1.7%, close to its 2022 low. Energy prices also closed sharply lower as traders worried about a possible recession. Treasury yields, which affect rates on mortgages and other kinds of loans, held at multiyear highs. U.K. government bond yields snapped higher after that country’s new government announced a sweeping plan of tax cuts.
The S&P 500 fell 64.76 points, or 1.7%, to 3,693.23.
The Dow Jones Industrial Average fell 486.27 points, or 1.6%, to 29,590.41.
The Nasdaq fell 198.88 points, or 1.8%, to 10,867.93.
The Russell 2000 index of smaller companies fell 42.72 points, or 2.5%, to 1,679.59.
For the week:
The S&P 500 is down 180.10 points, or 4.6%.
The Dow is down 1,232.01 points, or 4%.
The Nasdaq is down 580.48 points, or 5.1%.
The Russell 2000 is down 118.60 points, or 6.6%.
For the year:
The S&P 500 is down 1,072.95 points, or 22.5%.
The Dow is down 6,747.89 points, or 18.6%.
The Nasdaq is down 4,777.04 points, or 30.5%.
The Russell 2000 is down 565.72 points, or 25.2%.
Mid-cap stocks are defined as those of companies that have a market capitalization (market cap) between $2 billion and $10 billion. This is a class of stocks that can offer solid growth and value. However, mid-cap stocks can be overlooked by even the most experienced investors.
One of the advantages of owning mid-cap stocks is diversification. Large-cap stocks can mitigate much of the volatility in the market, but they also can limit the upside growth. Small-cap stocks may offer strong growth potential, but they may not be a good choice for investors with a low-risk tolerance. By contrast, the right mid-cap stocks can be a Goldilocks alternative.
In this presentation, we're analyzing seven mid-cap stocks that are showing a nice mix of growth and value. The stocks cover a variety of sectors, and there are stocks for investors of all styles.
View the "7 Mid-Cap Stocks That Can be the Perfect Fit at Any Time".