When I was at Ohio State University, Steve Buser and I started the Student Investment Management (SIM) program in 1990 with $5 million from OSU’s endowment fund. It was a fun class to teach and we were featured in Time Magazine, Barron’s, the BBC and United Airlines in-flight news, among others. So, today’s news was always fun to talk about. Like this …
Volatility gripped financial markets as a selloff in some of the world’s largest technology companies dragged down stocks. Treasuries climbed with the dollar.
The S&P 500 headed toward its worst day since mid March, while the Nasdaq 100 sank 2% amid a rout in megacaps Apple Inc., Tesla Inc. and Amazon.com Inc. CVS Health Corp. climbed after raising its full-year forecast as Covid-19 vaccines and testing helped boost first-quarter results and offset a weak cold and flu season.