Investors are pulling back following the U.S. Fed Chair Jerome Powell’s comments on Friday suggesting that the economy was headed for “some pain” as the central bank continues raising interest rates to combat high inflation.
Amid that backdrop, here are 3 tickers trending on Yahoo Finance as of Monday morning:
Bitcoin (BTC-USD): Bitcoin fell below $20,000 for the first since mid-June over the weekend. The price of Bitcoin has been volatile in recent days following Powell’s hawkish speech.
Apple (AAPL): Apple stock, along with the other major Big Tech stocks, fell in premarket trading on Monday amid a wider selloff. Apple will hold an in-person event on September 7, widely expected to be for unveiling the iPhone 14 and Apple Watch Series 8.
Wedbush analyst Dan Ives remains bullish on the stock in a new note on Monday: “Apple is in a strong position from a supply perspective for iPhone 14 heading into this highly anticipated September 7th launch. Despite the zero Covid shutdowns in…