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Trump's tariff plan is unpopular! More than half of the USA population opposes imposing taxes on commodities from Mexico.
Standard & Poor's stated that the tariffs in the USA will raise inflation rates and reduce economic output, while some individuals and businesses are stockpiling goods in anticipation of tariff concerns, leading to a significant increase in throughput at the Port of Los Angeles and Long Beach in November.
U.S. stock market close | The Federal Reserve takes a hawkish stance, three major Indexes drop together, with the Nasdaq down over 3%; Tesla falls over 8%, leading the decline among Technology giants, while Quantum Computing concept stock, Quantum, soars
The Dow Jones experienced ten consecutive declines, marking the longest streak of losses since 1974. The S&P fell nearly 3%, and the Nasdaq dropped over 3%. Tesla led the tech giants down with a decline of over 8%. The chip index fell nearly 4%, with Broadcom dropping nearly 7%, and NVIDIA initially rose nearly 5% during the day before turning negative. Micron Technology, which provided disappointing guidance for this fiscal quarter, fell over 10% in after-hours trading.
Shares of Semiconductor Companies Are Trading Lower Amid Overall Market Weakness Following the Fed's Rate Decision to Cut Rates by 25 Basis Points.
Broadcom, Marvell, Analog Devices Among JPMorgan's Favorite Chip Stocks for 2025
Omdia: The consumer Virtual Reality market continues to decline in 2024, with headset sales dropping by 10% year-on-year to 6.9 million units.
Omdia's latest research shows that the Consumer Virtual Reality market will continue to decline in 2024.
Before the Federal Reserve's decision, the rally of U.S. stocks faltered, the Nasdaq said goodbye to record highs, the Dow fell for nine consecutive days, Broadcom dropped over 4%, Chinese concept stocks rebounded against the trend, and Bitcoin reached a
The Dow Jones has seen its first nine consecutive declines since 1978; NVIDIA has seen four consecutive declines, while Tesla has risen over 3% against the trend, hitting new highs for three consecutive days. Chinese concept stocks rebounded nearly 2%, with PDD Holdings rising nearly 3% and Bilibili increasing over 4%. Salaries in the United Kingdom have grown faster than expected, with two-year UK bond yields rising 10 basis points in one day. The USD has rebounded; the Canadian dollar has hit a more than four-year low since the pandemic; Bitcoin surged over $0.108 million during trading, hitting a new historical high for two consecutive days. Crude Oil Product has fallen for two consecutive days, with US oil dropping more than 2% at one point; Gold has hit a new low for the week.