Why Clarus Corp. Stock Plummeted on Monday
Clarus Corp. (NASDAQ: CLAR) saw its stock plummet on Monday, as the share price was down roughly 11.5% to $19.70 per share at 3 p.m. ET.
All the major indexes were down as of this time, with the Nasdaq down about 66 points and the Dow Jones Industrial Average down about 46 points.
The sporting apparel and equipment manufacturer and distributor may have been feeling the aftereffects of last Friday's sell-off that stemmed from Federal Reserve Board Chair Jerome Powell's hawkish speech at Jackson Hole, where he indicated that the Fed would continue to move aggressively to bring down inflation. That obviously refers to continued rate increases, which could slow down the economy and bring some economic pain to consumers and businesses.
Source Fool.com
