Why Snap's Shares Fell 11.1% This Week
Shares of social media company Snap (NYSE: SNAP) dropped 11.1% in the first four days of trading this week as growth and tech stocks had a rough week. The company hasn't released any news that might account for the large drop in shares, so this was a market-driven phenomenon.
There was one big news item that drove both growth stocks and tech stocks lower this week, affecting Snap stock, and that was about interest rates. The rate on Treasuries and mortgages rose sharply this week, which investors generally equate with a slowing economy. Markets would prefer extremely low interest rates and an "easy" monetary policy that provides a stimulus to the economy.
Image source: Snap.
Source Fool.com
