ABSI fell 12.98% as the Nasdaq dropped 3.12%, the S&P 500 fell 1.86%, and the VIX jumped 23.72% during a broad risk-off session. The decline extended the earlier Nasdaq-led selloff after ABSI's sharp recent rally, with no new company catalyst behind the move. A fresh Fed call for at least two more rate hikes added pressure to high-beta growth stocks. Fed rate-hike comments
ABSI fell 12.98% as the Nasdaq dropped 3.12%, the S&P 500 fell 1.86%, and the VIX jumped 23.72% during a broad risk-off session. The decline extended the earlier Nasdaq-led selloff after ABSI's sharp recent rally, with no new company catalyst behind the move. A fresh Fed call for at least two more rate hikes added pressure to high-beta growth stocks. Fed rate-hike comments