Why Etsy Stock Was Down on Thursday
Shares of Etsy (NASDAQ: ETSY) are tumbling today, down by 7% as of 3 p.m. ET, compared to a 2.6% slump in the S&P 500. That drop added to significant short-term losses for the e-commerce specialist, which has fallen over 40% since the start of 2022.
Thursday's decline came as investors grew more worried about the prospects of a recession ahead.
Ironically, those worries were sparked on a day that brought several pieces of positive economic news. Fresh government statistics pointed to a robust jobs market and strong economic growth in the third quarter.
Source Fool.com
