Extreme Investor Network presents: Stock Market News Today – S&P 500 and Nasdaq Post Sharpest Weekly Losses Since April Amid Tech Rout
The stock market has seen some turbulent times recently, with major indices falling as tech stocks struggle. The S&P 500 and Nasdaq Composite closed out their worst week since April, with tech-heavy Nasdaq declining by 0.8%. The Dow Jones Industrial Average also slipped almost 1%.
Investors have been rotating out of tech-heavyweights, leading to a sell-off in the sector. The recent dive in tech was particularly hard on AI-focused chip stocks. But as the market reacts to the ongoing tech sell-off, there seems to be a shift towards small-cap stocks, which some believe could benefit more from interest-rate cuts.
A global IT outage also added to the market’s concerns as computer systems worldwide faced unprecedented failures, affecting industries like airlines, banking, and media. However, CrowdStrike, a cybersecurity firm, quickly addressed the issue caused by a botched update on Microsoft-based systems. CrowdStrike shares plunged initially but recovered some of the losses.
On another note, former President Donald Trump’s statement during his nomination speech to end the electric vehicle mandate has caused some ripples in the market. Investors are starting to factor in the potential implications of Trump’s policies, known as the “Trump trade,” on various assets if he were to return to the White House.
Looking ahead, investors will be watching closely for upcoming earnings reports from major companies like Coca-Cola, UPS, and Tesla. These reports will provide valuable insights into consumer behavior and the state of the economy.
Stay tuned to Extreme Investor Network for more updates and analysis on the latest trends in the stock market and financial world. Be the first to know about market shifts and investment opportunities that can help you make informed decisions and maximize your returns.