Stock market news today: Global stock rout deepens as Dow plunges over 1,100 points, S&P 500, Nasdaq sink 3%

kwonjs77 (70)in #steem • 4 months ago

Summary

Certainly! Here are the key takeaways from the article:

Market Sell-Off: Wall Street experienced a significant sell-off, with the Dow Jones Industrial Average falling over 1,000 points, the Nasdaq Composite dropping more than 3.4%, and the S&P 500 losing nearly 3%[^1^][1][^2^][2]. This was the worst day for the S&P 500 since 2022 and its worst start to any month since 2002[^3^][3][^4^][4].
Global Impact: The global stock market also sold off, with Japan's Nikkei 225 plummeting over 12% in its biggest-ever daily loss after a surprise interest rate hike by the Bank of Japan[^5^][5][^6^][6].
Tech Stocks Hit: Major tech companies like Apple, Nvidia, and Tesla saw their values plummet during the sell-off.
Interest Rate Cuts Expected: Almost 100% of bets are on the Federal Reserve cutting rates by 0.5% by its September meeting, according to the CME FedWatch tool[^7^][7].
Bitcoin Decline: Bitcoin sank more than 10% to approach the $54,000 level, while Ether also absorbed heavy losses[^8^][8][^9^][9].

Please note that this is a summary, and I recommend reading the full article for more details.

4 months ago in #steem by kwonjs77 (70)