
US markets sink; Farfetch fell 14.4% on negative Q3 results; Snowflake slides 9.23%.
- Nasdaq down 1.26% on Monday to close the session at 15,855 points.
- Farfetch shares fell 14.4% on the back of poor Q3 results.
- Snowflake slides 9.23% as investors move into financials and commodities stocks.
The US markets sank into close on Monday to start the week, with a final-hour tech selloff sending stocks to a second straight loss, as investors moved into financials and commodities stocks, which tend to outperform during inflationary periods.
The Dow Jones rose 0% to finish the trading day up 17 points to close at 35,619 points.
The tech heavy NASDAQ fell 1.26% to finish the trading day down 203 points to close at 15,855 points.
One bitcoin is worth US$56,071 going into the Asian trading day.
The Australian dollar is firm against the major currencies and is buying 72.26 US cents.
Shares in online luxury fashion retail platform Farfetch fell by over 14% with investors responding negatively to the company’s third-quarter results. The catalyst for the lower share price was mixed financial results that highlighted weaker sales and ongoing headwinds.
Snowflake shares also slid more than 9% and joined a raft of other tech stocks to pummel cloud stocks as investors moved towards financials and commodities stocks, which oftentimes outperform during inflationary periods. The data warehousing company became the largest software company to ever IPO in the US but analysts are concerned over its lofty valuation.
And, a radical cryptocurrency experiment nearly bought the US Constitution when a project called ConstitutionDAO tried to use the digital coin technology to buy one of the rare surviving original copies of the lauded document.
Read the full story
in the Grafa app
To read the full article and more in the Grafa app, available on all app stores.
Track the trends
Get the hot tips first
Stay close to your investments
Learn to trade like a pro
Let your money entertain you
See more stories like this

Similar stories
Which stocks are shooting up today?
After the first 20 minutes of trade, these are the stocks that are shooting higher
...read moreCurrencies while you were sleeping
The Australian dollar was higher against the major currencies overnight. The Aussie dollar is buying
...read moreCrypto while you were sleeping
CRYPTO TOP 10 CLUB Here are the gainers and losers out of the Top 10
...read moreDrill down into today’s commodities
Today’s prices for the basket of key commodities tracked by Grafa are as follows: The
...read moreWhat to expect on the ASX today
ASX Futures trading higher ahead of the market open in Sydney. Dow Jones closed up
...read moreThe cryptos making waves in the afternoon
CRYPTO TOP 10 CLUB Here are the gainers and losers out of the Top 10
...read moreThe price we have to pay: Australian businesses reveal
48% of businesses say they will not raise prices, primarily due to the desire to
...read moreThe biggest movers of the flyweight cryptos today
Of the micro cryptos, these ones were the movers. Mcashchain rose 338.90% to US$0.015, closing
...read moreThe biggest movers of the featherweight cryptos today
Of the smaller cryptos, these ones were the movers. Mirrored iShares Gold Trust rose 353.48%
...read moreThe biggest movers of the middleweight cryptos today
Of the middle-sized cryptos, these ones were the movers. Metacraft rose 66.39% to US$1.31, closing
...read moreSee more stories like this
