Stocks slide as chip industry fears, economic uncertainty weigh on markets
==========
U.S. markets faced significant declines in early September 2024; Nasdaq down 6% for the week, worst since January 2022; S&P 500 down 4%, Dow Jones down 3%, both worst since March 2023; Broadcom's revenue forecast disappointment led to a 10% drop in its stock; Nvidia down over 4%, Qualcomm down over 3%, Intel down 2%; Analyst Tom Essaye noted a rotation out of high-profile tech stocks; Mixed economic data and political uncertainty causing volatility; August jobs report showed a slowdown with a 3-month average job gain of 39.1K, below pre-pandemic average; Fed governor Christopher Waller indicated potential multiple rate cuts; Carol Schleif expects elevated volatility until the presidential election but anticipates solid 2025 earnings.
#Stocks #Nasdaq #Broadcom #Semiconductors #EconomicUncertainty #InterestRates #JobMarket #Volatility #TechIndustry #Investors
https://www.washingtonpost.com/business/2024/09/06/nasdaq-sp500-dow-semiconductors/
The Washington Post
npub1nw…97m8h
2024-09-06 23:00:17 UTC
Author Public Key
npub1nwad78hejfewj63p264uf2sxh0a5az753pw7auscrlupefjtr27sp97m8hPublished at
2024-09-06 23:00:17 UTCEvent JSON
{
"id": "9b0fc3a4e8f36f8845687df3a80866349beb6c33b4d4111b7acdd7b37c92aee2",
"pubkey": "9bbadf1ef99272e96a2156abc4aa06bbfb4e8bd4885deef2181ff81ca64b1abd",
"created_at": 1725663617,
"kind": 1,
"tags": [],
"content": "Stocks slide as chip industry fears, economic uncertainty weigh on markets\n==========\n\nU.S. markets faced significant declines in early September 2024; Nasdaq down 6% for the week, worst since January 2022; S\u0026P 500 down 4%, Dow Jones down 3%, both worst since March 2023; Broadcom's revenue forecast disappointment led to a 10% drop in its stock; Nvidia down over 4%, Qualcomm down over 3%, Intel down 2%; Analyst Tom Essaye noted a rotation out of high-profile tech stocks; Mixed economic data and political uncertainty causing volatility; August jobs report showed a slowdown with a 3-month average job gain of 39.1K, below pre-pandemic average; Fed governor Christopher Waller indicated potential multiple rate cuts; Carol Schleif expects elevated volatility until the presidential election but anticipates solid 2025 earnings.\n\n#Stocks #Nasdaq #Broadcom #Semiconductors #EconomicUncertainty #InterestRates #JobMarket #Volatility #TechIndustry #Investors\n\nhttps://www.washingtonpost.com/business/2024/09/06/nasdaq-sp500-dow-semiconductors/",
"sig": "d915c0741f24115d8370325fee629313b60f8bfef166a426183551aaa33ee2634e10ddfd95a7fef201a064c22fb737b01723c011be4c27a586c79f3974340602"
}