‘Buy the Dip’ Trends on Twitter, and Stocks Rebound From Their Lows
- Nasdaq 100 briefly turns positive after erasing 2021 gains
- Powell inflation comments also soothed markets: Phillips
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The ‘buy the dip’ mentality that’s become the mantra of pandemic-era markets paid off on Tuesday.
Just before 10 a.m. in New York, the Nasdaq 100 fell by more than 3%, wiping out the tech-heavy index’s advance for the year. Around that time, “buy the dip” began trending on Twitter as day traders took to their screens. By 3:20 p.m., the benchmark had turned positive, the first time it’s erased a loss of that magnitude since the pandemic panic last February. It closed down 0.2%