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Economic Concerns - US Technology Index Nasdaq Plunges, Nvidia ...
2024-09-04 23:55:08
Markets
Stocks
Economy

Economic Concerns - US Technology Index Nasdaq Plunges, Nvidia Stock Loses Almost Ten Percent

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The stock markets experienced losses as the Nasdaq 100, Dow Jones, Dax, and Japanese indices all fell. Nvidia's market value dropped significantly, leading to concerns about the US economy.

Investors are anticipating quarterly figures from Hewlett Packard Enterprise and Home24, as well as interest rate cuts by the US Federal Reserve and the ECB in September. The market sell-off was driven by growth fears and seasonal factors, impacting equities and cryptocurrencies.

Intel's future is uncertain as it faces a crisis with plummeting stock prices, layoffs, and suspended dividends. The company aims to make a comeback with grants and loans from the Biden Administration, but competitors like Nvidia and TSMC dominate the chip design and manufacturing industry.

The upcoming jobs report will determine the size of the anticipated interest rate cut by the US Federal Reserve.

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Nvidia's Stock Plunge and Gloomy Sentiment in US Stock Exchanges

Nvidia's stock has fallen by 14% despite good numbers, reflecting the overall weak sentiment in US stock exchanges. There is hope for an interest rate cut due to a labor market report, but the semiconductor industry is under pressure. Concerns about the overvaluation of AI stocks have also contributed to the decline. However, analysts expect an increase in Nvidia's stock, especially with the release of the new generation of 'Blackwell' chips. The AI sector as a whole has suffered, with $279 billion in market value lost and an antitrust probe initiated. The market's fear gauge, VIX, has soared. The recent decline in stocks is attributed to AI trade concerns, recession fears, and economic growth worries. Nvidia's sudden market value loss, the largest in history, has raised doubts about AI stocks' high valuations. The US Justice Department has reportedly subpoenaed Nvidia as part of an antitrust investigation.

Economic Concerns - US Technology Index Nasdaq Plunges, Nvidia ... Ten Percent

The global stock market experienced a significant sell-off as concerns about the economy and weak manufacturing data weighed on investor sentiment. The Nasdaq 100 index fell by 3.15%, with Nvidia and Intel being the biggest losers. Other major indices such as the Dow Jones, Dax, Nikkei 225, and Topix also recorded losses. Nvidia's market value plummeted by around $280 billion in a single day, marking the largest ever valuation wipeout for a US company. The sell-off was driven by fears of a potential recession in the United States and doubts about the profitability of AI investments. Investors are also anxiously awaiting quarterly earnings reports from companies like Hewlett Packard Enterprise and Home24, as well as interest rate cuts by the US Federal Reserve and the European Central Bank in September. The market volatility is expected to continue, with the upcoming jobs report influencing the size of the expected interest rate cut by the Federal Reserve.

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