Stocks Slide as Rates Rise; Bitcoin Off Peak; Solar Stocks Plunge While Victoria's Secret Rebrands
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The S&P 500 fell 2.4% this past week and is now down 7.9% from its 2023 high on July 31. The market is struggling with high interest rates.
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Bitcoin has rallied this year but remains down 48% from its peak in October 2021. Gold and silver rose as safe havens.
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Solar stocks plunged as higher rates make financing installations costlier. SolarEdge and Enphase sold off hard.
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Victoria's Secret rebranded back to its past "sexy" image and stock popped.
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The mega-cap "Top 7" tech stocks still dominate, comprising 87% of the S&P 500's YTD gain. Leadership is narrowing again.