Reported 5 months ago
The stock market plunged with the Dow dropping 605 points on Thursday, the worst day in 2024, as fresh economic data raised concerns about inflation and rate cuts. Nvidia's strong earnings boosted its stock, but the broader market saw a significant decline, erasing recent record highs. The data indicated inflation pressures for the US economy, leading to reduced expectations for rate cuts later in the year. Jobless claims were lower than expected, and the 10-year Treasury yield rose to 4.475%. Additionally, various events in commodities, bonds, and crypto markets were reported.
Source: YAHOO