{"id":187681,"date":"2020-09-03T22:21:19","date_gmt":"2020-09-03T22:21:19","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=187681"},"modified":"2020-09-03T22:21:19","modified_gmt":"2020-09-03T22:21:19","slug":"tech-stocks-and-u-s-markets-slide","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/tech-stocks-and-u-s-markets-slide\/","title":{"rendered":"Tech stocks and U.S. markets slide"},"content":{"rendered":"

Just a day after the Nasdaq cracked 12,000 points and the S&P closed at record highs, American stocks plunged Wednesday. The Nasdaq plunged 4.96%. The heavily traded shares were Apple<\/a>, closing -8% and AMD<\/a> at -8.51%. Basically, every tech stock suffered heavy losses: Tesla<\/a> -9.04%, Google<\/a> -4.96% and Microsoft<\/a> -6.06%.<\/p>\n

The S&P sank 3.51% while the Dow lost over 800 points and slipped 2.78% as every component finished in the red. Bucking the trend was American Airlines<\/a>, which rose nearly 1% in heavy trading, and Carnival<\/a> up 5.21%. The catalyst for this dramatic sell-off wasn’t obvious, though U.S. service sector growth slowed<\/a> in August, likely as the boost from reopening and fiscal stimulus faded. Then again, the latest weekly jobless<\/a> claims in the States was actually better than expected. A more likely answer is that investors felt it was time to take profits after the huge rally in tech stocks over the summer.<\/p>\n

Bay Street also saw a sell-off Wednesday, but less dramatically at -1.49%. All sectors closed in the red, but energy fared the best and tech suffered the most. Shopify<\/a> sank 5.11%. Investors flocked for sanctuary in some gold names such as New Gold<\/a>, rallying 5.86% and Roxgold<\/a>, up 4.46%. The price of gold itself slipped only $13 while WTI and WCS remained essentially flat. Friday will indicate whether Thursday marked the start of a pullback or if Thursday was a passing sell-off that some had expected.<\/p>\n

🍎 Apple<\/a> -8%
\n💿 Advanced Micro Devices<\/a> -8.51%
\n🚗 Tesla Motors Inc<\/a> -9.04%
\n🧮 Alphabet Inc. \/ Google<\/a> -4.96%
\nⓂ Microsoft<\/a> -6.06%
\n🛫 American Airlines Group<\/a> +1%
\n🚢 Carnival Corp.<\/a> +5.21%
\n🛍 Shopify Inc.<\/a> -5.11%
\n🥇 New Gold Inc.<\/a> +5.86%
\n🥇 Roxgold Inc<\/a> +4.46%<\/p>\n","protected":false},"excerpt":{"rendered":"

Just a day after the Nasdaq cracked 12,000 points and the S&P closed at record highs, American stocks plunged Wednesday. The Nasdaq plunged 4.96%. The heavily traded shares were Apple, closing -8% and AMD at -8.51%. Basically, every tech stock […]<\/p>\n","protected":false},"author":12,"featured_media":174836,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"cwp_meta_box_check":"No","cwp_rev_product_name":"","cwp_rev_product_image":"","wppr_links":[],"cwp_rev_price":"","wppr_options":[],"wppr_pros":[],"wppr_cons":[],"footnotes":""},"categories":[178],"tags":[],"class_list":["post-187681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily"],"wppr_data":{"cwp_meta_box_check":"No"},"_links":{"self":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/187681","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/comments?post=187681"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/187681\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media\/174836"}],"wp:attachment":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media?parent=187681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=187681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=187681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}