Reported 5 months ago
US stocks saw a mixed day, with the Nasdaq Composite dropping over 2.7%, the most significant single-day decline since December 2022, due to concerns over US export curbs on China and remarks by Donald Trump on Taiwan. Meanwhile, the S&P 500 fell by over 1.3%, and the Dow Jones Industrial Average closed at a new record high. This decline was driven by a sell-off in tech stocks, especially impacting heavyweights like Nvidia and chipmaker TSMC amidst worries about advanced chip technology restrictions to China and comments on US defense support for Taiwan. Despite this, S&P 500 companies are reporting better-than-expected second-quarter results, and investors are growing more confident in a 'soft landing' for the global economy.
Source: YAHOO