Why Peloton and Zillow Plunged Despite the Dow's Record Close
The stock market had another topsy-turvy day on Wednesday, with major market benchmarks getting pushed and pulled in both directions at various points. Investors remain concerned about the potential for inflation forcing the hand of the Federal Reserve, but they're also upbeat about the prospects for economic recovery and generally strong earnings from corporate America.
Once again on Wednesday, the Nasdaq Composite (NASDAQINDEX: ^IXIC) lagged behind the rest of the market. A couple of Nasdaq stocks, Peloton Interactive (NASDAQ: PTON) and Zillow Group (NASDAQ: Z) (NASDAQ: ZG), had a role to play in the index's decline.
Wall Street was once again mixed on Wednesday, continuing a pattern that includes a lack of direction in major market benchmarks. The Dow Jones Industrial Average (DJINDICES: ^DJI) climbed to all-time record highs, while the S&P 500 (SNPINDEX: ^GSPC) treaded water amid downward pressure from the tech stocks that make up such a large portion of the Nasdaq's constituency.
Source Fool.com
