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After the technology stock's $900 billion collapse, the US stock market will face a critical week!
Are you still bullish in the long term?
US stocks closed with all three major indices falling, with the S&P Nasdaq index seeing its largest weekly decline in three months. Technology stocks weakened, with Tesla down more than 4%, Nvidia down more than 2%, and CrowdStrike down more than 11%.
Investors accelerated their escape from technology stocks, with stocks and bonds in Europe and the United States being hit hard for two days. This week, the S&P 500 and Nasdaq fell by about 2% and 3.7%, respectively. The Nasdaq stopped its six-week continuous rise, while the Dow and small-cap indices rose by 0.7% and 1.7%, respectively. Chip stocks fell more than 3% on Friday and nearly 9% for the week. Nvidia also fell more than 8.7% for the past three months, making it the worst performer. The "seven sisters of technology" all fell for the week, and cybersecurity leader Crowdstrike, which triggered a global technology outage, fell 11% on Friday, the worst in nearly two years. The VIX panic index rose more than 32% for the week.
Overnight news: White House raises its 2024 US economic growth and inflation forecasts. CrowdStrike causes the largest IT failure in history. Duff & Phelps says that Biden's withdrawal from the race is unfavorable to the US dollar.
For more global financial information, please visit the 7x24-hour real-time financial news market closing: The Dow fell 370 points, and the S&P index recorded its largest weekly decline in three months. The top 20 US stock transactions on July 19: CrowdStrike caused the largest IT system failure in history. WTI crude oil fell 3.3%, and investors focused on the Gaza ceasefire hopes. Popular Chinese concept stocks rose and fell on Friday, and New Oriental rose 3.2% while Taiwan Semiconductor fell 3.6%. European stocks collectively fell: German Dax30 index fell 1.09%. The White House's macroeconomic outlook for 2024 raises US economic growth and inflation forecasts, calling for the passing of the torch.
Express News | Shares of Semiconductor Stocks Are Trading Lower as the Sector Pulls Back Following This Year's Strength, Which Has Been Driven by AI Momentum
US stocks fluctuate: chip stocks fall, Taiwan Semiconductor (TSM.US) falls 2.9%.
Chip stocks are down, as of the time of writing Qualcomm has fallen more than 1.3%.
Today's Analyst Rating | Apple Price Target Raised to $260 by Melius Research, CFRA Upgrades Microsoft to Buy
Jul 19, Wall Street analysts have updated their stock ratings today including $Apple(AAPL.US)$ and $Microsoft(MSFT.US)$.