SYND

S&P 500 falls into bearish territory; The stock market sell-off continues

A week-long selloff took on new intensity on Friday, sending the S&P 500 into bearish territory for the first time since the pandemic-induced 2020 selloff. The shares rose at the open, then reversed course, falling throughout the session. The S&P 500 fell 1.8%, on course to close at least 20% below its January peak. The …

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Melvin Capital will close its funds and return money to investors

Melvin Capital plans to close its funds and return the money to its investors, capping a stunning reversal for a company who lost big on soaring meme stocks last year and betting on growth stocks this year. In a letter to investors that was reviewed by The Wall Street Journal, Gabe Plotkin, Melvin’s founder, wrote …

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