Skip to Content
MarketWatch

Panic-buying signs in tech stocks emerge on Wall Street Tuesday despite Dow's 300-point tumble

While the Dow Jones Industrial Average on Tuesday was seeing its biggest one-day skid since around mid June, market internals suggest investors on the Nasdaq Inc. (NDAQ) are buying rather than selling stocks. The Nasdaq Arms Index Arms Index, a volume-weighted breadth measure, fell to 0.473, while many on Wall Street see declines below 0.500 as suggesting panic buying. The Arms Index is calculated by dividing the ratio of the number of advancing stocks over decliners by the ratio of the volume of advancing stocks over declining volume and the Arms index often falls below 1.000, as the buyers rush into advancing stocks. Meanwhile, the Nasdaq Composite [c: COMP] was off 0.2% at 14,614, the S&P 500 index was off 0.6% at 4,326, and the Dow was trading 1% or off more than 330 points lower at 34,470, heading for its worst daily drop since June 18.

-Mark Decambre; 415-439-6400; AskNewswires@dowjones.com

 

(END) Dow Jones Newswires

07-06-21 1153ET

Copyright (c) 2021 Dow Jones & Company, Inc.

Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.

We’d like to share more about how we work and what drives our day-to-day business.

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

How we use your information depends on the product and service that you use and your relationship with us. We may use it to:

  • Verify your identity, personalize the content you receive, or create and administer your account.
  • Provide specific products and services to you, such as portfolio management or data aggregation.
  • Develop and improve features of our offerings.
  • Gear advertisements and other marketing efforts towards your interests.

To learn more about how we handle and protect your data, visit our privacy center.

Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.