Continued weakness in EM equities will ironically lead to capital flows into India as global investors seek a hiding place
(Reuters) - U.S. stocks rose on Tuesday, with the S&P 500 hitting a four-month high, as energy companies got a lift from firming oil prices and strong results from PepsiCo signaled a flying start to the second-quarter earnings season.
Shares of the Amazon fell 2.8% and Jeff Bezos' fortune slipped $3.3 billion to $116.4 billion
The stock plunge is occurring during an upswing in the economy with the unemployment rate at 4.1%
The Dow Jones Industrial Average plunged 600 points as a strong employment report of sent Treasury yields toward 3%
Dow Jones Industrial Average fell 112.58 points, or 0.53 per cent, to 21,002.97
The S&P 500 Index tumbled 0.7 per cent to 2,153.74 earlier this week, its worst decline since the week ended September 9
The Dow industrials ended at a record high on Friday and major indexes closed a third consecutive week of gains on upbeat economic data and the start of earnings season
Friday could be the busiest trading day of the year, as fund managers adjust their positions to that rebalancing