Why Wayfair Stock Lost 9% Today
Wayfair(W) The Motley Fool·2024-10-22 05:46
Rising interest rates torched the home furnishings stock. Shares of Wayfair (W -9.33%) were taking a dive, even though there was no company-specific news out on the online home furnishings retailer. Instead, Wayfair got hit by rising Treasury yields, a sign investors think the Federal Reserve will be slower to cut interest rates than they previously did. Some economists now expect no cut at the next meeting in two weeks. As a result, Wayfair finished the day down 9.3%. Wayfair could use some help Spending o ...