Community discussions
U.S. markets dropped on Tuesday as tech stocks continued to face heavy selling.
With Nvidia’s earnings ahead and delayed September non-farm payrolls coming this Thursday, traders stayed cautious.
Dow -1.07%
Nasdaq -1.21%
S&P 500 -0.83%
Semiconductors -2.31%
Big tech pulled the market lower — Amazon fell over 4%, while Nvidia and Microsoft dropped more than 2%.
Bitcoin briefly fell below $90,000, hitting a 7-month low as risk sentiment weakened.
The upcoming non-farm payrolls report will be key for expectations on future Fed rate cuts, with odds now closer to 50/50.
“Recent declines are mainly driven by the ‘Magnificent Seven’ taking a breather after leading the market for so long,” said Check Capital.