☁️ Week 7 Update
www.breakingsaas.com
☁️ Week 7 Update
[Week 7, 2022] 📉 Cloud stocks declined 7.9% on geopolitical concerns
Cloud stocks declined 7.9% for the week ending February 18, 2022.
Russia/Ukraine whipsaw. Markets declined Monday as the US closed its embassy in Kyiv, before rebounding Tuesday and Russia announced it would withdraw some troops from the Russia/Ukraine border. The reprieve was short-lived as Cloud stocks declined 6% on Thursday and an additional 3.2% on Friday.
🤙 No surprises from the Fed. Fed minutes noted policymakers were ready to raise interest rates and reduce the central banks' balance sheet soon, but more aggressive moves were not announced.
