Indexes fell today following yesterday’s move by the Federal Reserve to increase interest rates and a rising bond yield.
The S&P; 500 was down 3.4% to 4,152.90 while the Dow 30 was off 3% to 33,040.29 and the Nasdaq dropped 4.6% to 12,365.53.
Crude oil was flat at $107.79 a barrel.
Gold was up 0.6% to $1,879 an ounce.
The 10-year bond climbed 5.9% to 3.088%.
Irvine-based Inari Medical Inc. (Nasdaq: NARI) dropped 15% to $70.95 and a $3.8 billion market cap. While the maker of products to treat vein clots yesterday reported first-quarter results that topped analysts’ average estimates, Chief Financial Officer Mitch Hills told analysts the company is looking at a “flattish Q2, maybe up a bit” because of the COVID disruption, staffing shortages and other issues.
Brea-based Envista Corp. (NYSE: NVST) increased 5.9% to $44.03 and a $7.2 billion market cap. The maker of dental equipment said first-quarter sales climbed 3.1% to $631.4 million and its profit was 47 cents a share, topping analyst average estimates.