The U.S. stock market is in the spotlight today as tech stocks plunge once more, dragging the market into a fresh slump. Investors are watching nervously as the Nasdaq tumbles almost 0.7% in early trading, marking back-to-back days of losses. But this isn’t isolated to just the Nasdaq—it’s rippling through the entire S&P 500, which has now fallen for four consecutive days.
Big tech giants are feeling the heat like never before. Stocks from companies like Palantir Technologies and NVIDIA have taken sharp hits, fueling fears that overinflated tech valuations might be unraveling. The meteoric rise fueled by AI hype is meeting a stark dose of reality, and investors are pulling back hard.
Adding to the tension, Wall Street is bracing for Federal Reserve Chair Jerome Powell’s key speech at the Jackson Hole symposium later this week. Markets are jittery, hoping for clarity on whether the Fed will pivot to rate cuts or continue tightening. This looming uncertainty keeps traders on edge and selling pressure high.
Meanwhile, other sectors are showing mixed results, with retail stocks trying to hold their ground amid the market turbulence. Yet, the dominant narrative today remains focused on tech’s stumble—could this be a warning sign of a broader market collapse ahead?
Stay tuned as the drama unfolds. With big tech dragging stocks lower and the Fed’s next move uncertain, the question on everyone’s mind is simple: Are we just witnessing a correction, or is a major crash looming on the horizon? Investors, buckle up.