From Nasdaq
August 5, 2024 12:58:46 pm:

US stocks today are down, with the S&P 500, Dow Jones, and Nasdaq dropping to multi-month lows. Concerns of a sharp economic downturn persist due to weaker US economic data. Megacap tech stocks are leading the decline. A flight to safety into government debt has lowered bond yields to multi-month lows.

Global equity markets are sharply lower, with Euro Stoxx 50, China’s Shanghai Composite, and Japan’s Nikkei Stock 225 all dropping. Government bond yields in Europe are also moving lower. In the US, interest rates rallied to multi-month highs as recession concerns eased after US Jul ISM services index rose.

Apple, Nvidia, Tesla, and other tech stocks are down sharply today. Nvidia leads losers in the Nasdaq 100 after reports of delays in AI chips. Crypto-related stocks are falling with Bitcoin. Mining and travel/casino stocks are also sliding. Moderna is down after a downgrade, while Mars is exploring an acquisition of Kellanova.

Tyson Foods and Sotera Health are up after strong Q2 earnings reports. Welltower is up after a price target raise. Several companies report earnings today, including CSX Corp, Realty Income Corp, and Tyson Foods Inc. Market sentiment remains cautious amid global economic uncertainties.

Read more at Nasdaq.: Stocks Slump on US Economic Growth Risks