Advertisement
Singapore markets closed
  • Straits Times Index

    3,280.10
    -7.65 (-0.23%)
     
  • Nikkei

    37,934.76
    +306.28 (+0.81%)
     
  • Hang Seng

    17,651.15
    +366.61 (+2.12%)
     
  • FTSE 100

    8,139.83
    +60.97 (+0.75%)
     
  • Bitcoin USD

    62,976.71
    -1,632.00 (-2.53%)
     
  • CMC Crypto 200

    1,304.48
    -92.06 (-6.59%)
     
  • S&P 500

    5,099.96
    +51.54 (+1.02%)
     
  • Dow

    38,239.66
    +153.86 (+0.40%)
     
  • Nasdaq

    15,927.90
    +316.14 (+2.03%)
     
  • Gold

    2,349.60
    +7.10 (+0.30%)
     
  • Crude Oil

    83.66
    +0.09 (+0.11%)
     
  • 10-Yr Bond

    4.6690
    -0.0370 (-0.79%)
     
  • FTSE Bursa Malaysia

    1,575.16
    +5.91 (+0.38%)
     
  • Jakarta Composite Index

    7,036.08
    -119.22 (-1.67%)
     
  • PSE Index

    6,628.75
    +53.87 (+0.82%)
     

Why Carvana Stock Was Sliding Today

Why Carvana Stock Was Sliding Today

Shares of Carvana (NYSE: CVNA) were falling again today, even though there was no company-specific news out on the online used car dealer. Instead, a stronger-than-expected jobs report sparked a sell-off as it convinced investors that the Federal Reserve was more likely to keep raising interest rates. Carvana, which is bleeding cash and especially sensitive to interest rates, took the news worse than most.