Traders respond to selloff by buying oil, options and meme stocks

BNN: 'Market volatility is giving retail traders whiplash, and there’s little consensus among the meme-stock set on how to react.

'After two years of stimulus-fueled gains, stocks are getting hammered, with surging inflation, rising interesting rates and a tumultuous earnings season conspiring to keep markets weak.

'Both the S&P 500 and the Nasdaq 100 have fallen for four consecutive weeks, and the S&P’s 8.8 per cent drop last month marked its worst April performance since 1970. The tech-heavy Nasdaq slumped 13 per cent for its worst month since the financial crisis in 2008. '