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Bank of America: Technology stocks are only one "terrible non-farm report" away from collapsing.
Since the historical high point on July 10th, the market cap of companies in the Nasdaq 100 index has evaporated $2.6 trillion. Analyst Michael Hartnett of Bank of America believes that signs of an economic slowdown will put further pressure on technology stocks, but remains optimistic on the bond market for the second half of the year.
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US June PCE Preview: The Upcoming Price Index Will Reinforce Expectations of a September Interest Rate Cut
Summers Balks at Dudley's Call for Fed to Start Cuts Now
Technology stocks encountered a "Black Wednesday", USA's "hard landing" should not be ignored!
Some popular recession indicators are continuously alarming, and the yield curve has been inverted for two years, releasing recession signals of unemployment rate. The market is paying attention to whether the second quarter GDP to be released on Thursday will trigger a red light warning.
S&P 500 and NASDAQ suffered a "Black Wednesday"! What's even more terrifying is that this round of correction in US stocks may be "far from over".
Senior economists from Interactive Brokers, a top brokerage in the USA, stated on Wednesday that the correction in the US stock market is far from over.