SMG - Hot Stock: Chinese tech stocks rally; SMG drops on slashed forecast; ZEN hits low; VIVO sets high

Stocks suffered a setback on Wednesday, losing ground after two days of modest gains. Overall, the major averages continue to show a lack of direction, as investors remain worried about inflation, interest rates and the possibility of an eventual recession. Scotts Miracle-Gro (NYSE:SMG) was among the decliners on the day. The stock dropped after slashing its forecast for the year. Meanwhile, Zendesk (ZEN) dropped to a new low on the dimming prospects that the company would find a buyer. Despite the overall losses, China's tech sector saw an uptick during the session. Chinese government approval for video game licenses drove gains in Alibaba (BABA), Pinduoduo (PDD), JD.com (JD), Bilibili (BILI) and NetEase (NTES). Meridian Bioscience (VIVO) also showed strength, adding to recent gains and setting a new 52-week high. Sector In Focus Another sign that China's government is offering support to its tech sector sparked gains in some of the

For further details see:

Hot Stock: Chinese tech stocks rally; SMG drops on slashed forecast; ZEN hits low; VIVO sets high