Rising Treasury yields, looming rate hikes to fight inflation and heightening conflict in the Middle East drove investors away from risky assets last week.
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribefor the stock this year as CEO Elon Musk sounded pessimistic about macroeconomic issues on a recent earnings call. Shares of the electric automaker are still up 96% year-to-date.
"We're hopefully going to see some continued positive strength there on the economy and what they see going forward," said Ryan Detrick, chief market strategist at Carson Group. "The headlines are scary, for sure. But the fundamentals to us are pretty strong. We're still seeing earnings season that's going to come in better than expected."last week.
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