Market Update: 2023 Bond Bounce, TikTok, META, AMZN, TSLA | Dec 20

By Kirsteen Mackay


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In today's market update, we look at a potential bond market rebound, TikTok criticism, COVID variant concerns, a potential $12bn EU Meta fine, and Binance's acquisition of Voyager.


On Monday, US equities ended lower, with the Dow falling by 0.49%, the S&P 500 falling by 0.90%, the Nasdaq falling by 1.49%, and the Russell 2000 falling by 1.41%. (How to buy NASDAQ stocks)

The S&P 500 was down for the fourth consecutive session and earlier hit its lowest level since November 9, although it met some resistance at the 3800 level.

All sectors except energy were down.

Fixed-income investors are eyeing a bond market rebound in 2023 as recession risks rise.

TikTok has drawn criticism from senators on both sides of the aisle in the US, who see it as a Chinese surveillance tool.

The US is concerned that China's growing COVID outbreak could lead to new virus mutations. The EU could fine Meta (NASDAQ: META) up to $12bn for antitrust violations.

Binance has stepped in to buy the bankrupt crypto firm Voyager for $1bn after FTX's offer evaporated.

Meta and Amazon (NASDAQ: AMZN) have both been weaker due to EU antitrust concerns, and autos have also been lower, with Tesla (NASDAQ: TSLA) not seeing much movement despite early support from a poll suggesting CEO Elon Musk could step away from Twitter.

The US Navy has awarded Amazon Web Services a contract worth over $700m.

Dig a little deeper into the market update:

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In this article:

Market Economy
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Author: Kirsteen Mackay

This article does not provide any financial advice and is not a recommendation to deal in any securities or product. Investments may fall in value and an investor may lose some or all of their investment. Past performance is not an indicator of future performance.

Kirsteen Mackay does not hold any position in the stock(s) and/or financial instrument(s) mentioned in the above article.

Kirsteen Mackay has not been paid to produce this piece by the company or companies mentioned above.

Digitonic Ltd, the owner of, does not hold a position or positions in the stock(s) and/or financial instrument(s) mentioned in the above article.

Digitonic Ltd, the owner of, has not been paid for the production of this piece by the company or companies mentioned above.

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