The main stocks that are plunging: Nektar Therapeutics, Sibanye Stillwater Limited, RingCentral, Inc.

Leading equity indices in the US declined as Dow Jones lost 0.71% and ended the session at 32,657. S&P 500 slipped 0.3% and closed at 3,970.

This downslide might be related to financial indicators data published earlier as Consumer Confidence in United States fell short of market expectations (108.5) with a reading of 102.9, continuing the decline from the previous figure of 106.

What is a downtrend?

The perceived tendency of a price to move in a downward direction over time. A downtrend describes the price movement of a continously depreciative financial asset over a particular time frame. In a downtrend, each successive low and peak is lower than the ones found earlier in the trend. The downtrend is therefore composed of lower swing lows and lower swing highs.

| Nektar Therapeutics | 54.15% ($1.62) depreciation over 5 days (32.4 cents per day average)

After setting a $1.35 – $1.43 range, Nektar Therapeutics closed the day 0.72% lower at $1.38. Nektar Therapeutics falls 3.62% in pre-market and trades at $1.33. This builds on a session of losses in which it closed at $1.38 after dropping to $1.35 for the first time in 2 months. Slightly down but mostly flat: Nektar Therapeutics ranged between $1.35 and $1.43 before closing at $1.38. Daily trading volume (2.78 million shares) increased, making up 105% of the 21-day average (2.66 million).

| D/B/A Sibanye-Stillwater | 34.2% ($4) depreciation over 30 days (13.2667 cents per day average)

After setting a $8.03 – $8.19 range, D/B/A Sibanye-Stillwater closed the day 2.76% lower at $8.1. D/B/A Sibanye-Stillwater gains 2.59% in pre-market and trades at $8.31. This comes following a session of losses in which it closed at $8.1 after dropping to $8.03 for the first time in 5 months. Daily trading volume (4.38 million shares) increased, making up 117% of the 21-day average (3.74 million). The company trades at $8.1 ahead of quarterly performance report which is scheduled to be released tomorrow.

D/B/A Sibanye-Stillwater is trading in a $8.03 – $8.19 range prior to its earnings announcement.

| RingCentral | continues a 9 day decline; stumbles 2.68% yesterday

Yesterday's session continued the recent downtrend: despite the risk-off mood, RingCentral was range-bound between $33.03 to $34.34 and settled at $33.04. After setting a $33.03 – $34.34 range, RingCentral closed the day 2.68% lower at $33.04. Daily trading volume (2.66 million shares) increased, making up 107% of the 21-day average (2.48 million).

The company has a market cap of $3.15 billion with an average daily trading volume of 2.48 million shares. The cloud-based comms company is trading 74.23% lower compared to the $130.84 high it reached over the past year. So far this year, it has been doing worse than the Nasdaq by 13.66%. RingCentral last reported revenue of $524.75 million with an EPS of -32 cents.