Dow Jones futures were opening Sunday night, along with Nasdaq futures. Stocks rose after Treasury yields surged in the week before the Corona virus pandemic hit. The New Year kicked off strong, led by Tesla (TSLA, AAPL, NVDA) and a few other tech firms. However most of this week was a disappointment, with major stocks shedding and leaders such as Tesla stock crashing badly. The underlying cause of the recession was soaring interest rates, as a disappointing job report from the Fed led to bonds selling out. It slammed stocks and financial markets and pumped up stocks’ value.
Updated on January 9, 2022 : This story was published at an earlier date and has been updated with new information.