[Wall Street] "It is not the beginning of a big adjustment"

[Wall Street] "It is not the beginning of a big adjustment"

The three major indexes of the New York Stock Exchange fell sharply. 

The Dow Jones Industrial Average and the S & P 500 fell more than 1 percent. 

There is growing concern that the stock market may be braking as US yields continue to rise following the day before.

Wall Street analysts say investors have begun to realize that the current upward trend can not continue. 

Some adjustments are needed to resolve the cumulative fatigue caused by the continuous rise. However, optimism is dominant that fundamentals such as economic growth and earnings improvement still support the stock market.

The Dow Jones industrial average fell 362.59 points, or 1.4 percent, to close at 20,676.89. 

It is the largest daily decline since May 17 last year. 

United Health Group (-4.4%) fell most of the time, pulling down the index.

The Standard & Poor's 500 index fell 31.10 points, or 1.1 percent, to close at 2,822.43. The healthcare sector (-2.1%) plunged and led the index down. 

The biggest decline since August last year was the daily rate of decline. 

The tech-heavy Nasdaq Composite Index was down 64.02 points, or 0.9 percent, at 7402.48.

"Inflation has risen and concerns have arisen that high interest rates could put a bear on the bull market," said Jasper Roller, head of research at the London Capital Group. 

"High funding rates have put pressure on companies that have relied on potentially inexpensive funds. I can do it. "

But most Wall Street analysts maintained optimism despite the plunge. 

"Despite the temporary decline in the market, the bigger picture is still optimistic," said Karin Kabanovvoya, chief financial strategist at the firm. 

"The economy is growing at a faster pace than last nine years, They are doing well. "

"The sale of health care is excessive," he said. 

"While the healthcare industry may be smaller because everyone else is trying to cut down on healthcare costs, ultimately it is beneficial to consumers."

Healthcare stocks plummeted after three companies, including Amazon, Berkshire Hathaway, and JP Morgan, announced they would jointly establish a healthcare company to reduce their employees' medical costs.

Art Hogan B. Lilly, FBR's chief market strategist, said, "Adjustments are taking place on a one-sided rise, and people are realizing that this can not last."

"People are looking for reasons to sell," said Robert Fabric, Slate Stone Wells chief investment strategist, "but I do not think it is the beginning of a major adjustment."