The stock market took a tumultuous turn on Thursday, leaving investors puzzles as the S&P 500 and NASDAQ failed to regain the ground lost in previous sessions. The tech-triggered selloff led to a decline, with the Dow adding a mere 2/10 of a percent, the S&P losing half a percent, and the NASDAQ falling more than 9/10 of a percent. Despite being up for most of the session, driven by stronger than expected second quarter GDP data, mega cap stocks like Meta Platforms, Microsoft, and Nvidia succumbed to the pressure and ended the day lower. What's next for these indices, and how will the earnings reports shape the market's trajectory?
The stock market took a stunning nosedive on Wednesday, with the S&P 500 and NASDAQ experiencing their largest single-day losses in nearly two years. The decline was led by the same big Tech names that had fueled the market's rally this year. The Dow lost a whopping 1.9%, the S&P 500 plunged 2.3%, and the tech-heavy NASDAQ nosedived more than 3.6%. What's behind this dramatic shift, and what does it mean for investors and the future of technology?