Japan Stocks Tumble as U.S. Market Slump Sparks Global Sell-Off

Published On Sep 3, 2024, 11:34 PM

Global stock markets have been unsettled, particularly in the technology sector, after a significant sell-off led by U.S. tech companies like Nvidia. The S&P 500 experienced fluctuations, ultimately falling by 0.2% on Wednesday, following a 2% decline the previous day. Nvidia's stock saw a turbulent week, with a nearly 10% drop the day before, marking the largest single-day loss for any publicly traded U.S. company. Meanwhile, a decrease in U.S. job openings has added to concerns regarding the economy, prompting speculation about potential interest rate cuts by the Federal Reserve.

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Stock Forecasts

NVDAView NVDA chart on TradingView

Negative

Nvidia's recent stock price volatility due to economic concerns and underwhelming job market reports suggests that it may continue to face headwinds. Investors might be cautious in the short term, leading to further downward pressure on its stock price.

XLKView XLK chart on TradingView

Negative

Given the overall uncertainty in the technology sector and potential Fed policy shifts, ETFs that focus on the tech sector may also be affected negatively as investors pull back on riskier assets.

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