Reported 2 months ago
US stocks fell sharply on Thursday due to disappointing economic data and a significant decline in technology shares, particularly in the semiconductor sector. The Nasdaq Composite dropped 2.3%, while the S&P 500 and Dow Jones also experienced losses, with the 10-year Treasury yield slipping below 4% for the first time since February. Recent reports indicated a deeper contraction in the manufacturing sector and a rise in jobless claims, prompting investors to reassess market conditions amidst expectations of a Federal Reserve rate cut in September. Despite some individual stocks reporting better-than-expected earnings, the overall market sentiment remained negative.
Source: YAHOO