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Sales of New U.S. Homes Drop to Lowest in Four Months

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Reuters

Wall Street’s big slide makes retail investors wary to ‘buy the dip’

U.S. investors have apparently been losing their appetite to “buy the dip” during Wall Street’s recent slide, further eroding support for a market pummeled by worries over everything from tightening monetary policy to the war in Ukraine. Options trading data tracked by Vanda Research showed that purchases of calls – typically employed to express a bullish view of stock prices – have fallen close to year-to-date lows for the tech-heavy Invesco QQQ ETF, which tracks the tech-heavy Nasdaq Composite Index. “There are initial signs that retail might be getting a bit tired of losing their money,” said Lucas Mantle, a data science analyst at Vanda Research.

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