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	Podcast:		Morgans Financial Limited
	Episode:		Morgans AM: Wednesday, 9 March 2022
	Category:		Business
	Duration:		00:07:23
	Publish Date:		2022-03-08 22:58:01
	Description:		US equity markets retreated, with the S&P500 settling at its lowest level since June 2021 after yet another volatile session - Dow down -185-points or -0.56%, unwinding an earlier +585-point rally. The broader S&P500 lost -0.72%, and pushing deeper into official correction territory. Consumer Staples (down -2.64%) and Healthcare (-2.11%) both declined over >2% to lead nine of the eleven primary sectors lower. Energy (up +1.39%) was yet again the leading primary sector, with Chevron Corp up +5.24%. Airlines and cruise lines also advanced. Delta Air Lines Inc rose 3.69%, American Airlines Group Inc +5.22% and United Airlines +3.32%, while Norwegian Cruise Line Holdings Ltd rose +3.77%. General Electric Co (up +3.24%) announced that its board authorised a $3B share buyback programme. The technology-centric Nasdaq -0.28% a day after entering an official bear market. Apple Inc (down -1.17%) staged its spring product launch event. The company unveiled a slew of new products on Tuesday, including a new iPad Air, the high-powered Mac Studio computer and the successor to one of its best-value phones, the iPhone SE. The small capitalisation Russell 2000 bucked the weaker trend, adding +0.60%.
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