U.S. Stock ETFs Extend Losses after Record Run
April 20, 2021
U.S. markets and stock exchange traded funds continued to decline Tuesday as investors seek out signs to further justify the record-setting equity rally.
On Tuesday, the
“All these company share prices are near or close to record highs and we are seeing a lot of people taking money off the table,” Michael Hewson, chief market analyst at CMC Markets, told the Wall Street Journal. “There is a general lack of impetus.”
Further weighing on sentiment, a spike in Covid-19 infection levels in some countries along with concerns over the vaccine rollout have dragged on the markets. The rising coronavirus cases weighed most heavily on travel stocks, notably airliners, on Tuesday.