Buildings line Wall Street, Monday, Aug. 31, 2020, in New York. NEW YORK — Stocks fell sharply on Wall Street Thursday as high-flying technology companies took a tumble after months of spectacular gains. The benchmark S&P 500 lost 3.5%, its biggest loss since June, and the tech-heavy Nasdaq fell 5%. Both indexes set record highs a day earlier. Apple, the most valuable U.S. company, slumped 8%.
Big Tech companies have made outsize gains in recent months as investors bet that they would continue posting huge profits even with manystill in place as people spend even more time online with their devices. Market watchers have questioning recently whether those gains were overdone. The Dow Jones Industrial Average fell 874 points, or 3%, to 28,227. It was briefly down 1,000 points earlier.
The stocks that were doing better than the rest of the market were companies whose stocks have been beaten down this year: travel companies and airlines. Carnival Corp was up 6%, Norwegian Cruise Lines was up 5% and Royal Caribbean was up 3%.The government reported that the number of Americans who applied forfell last week to 881,000, slightly better than what economists had expected.
With small business closures and unemployment approaching record highs, it’s amazing that the stock market hasn’t crashed. Pumping trillions of dollars into the market to keep it afloat, Donald Trump seems to be feeling even big business now
😂😂😂
And Apple collapsed to USD120.88: −10.52 (−8.01%)
Good, destroy this tech shit that has warped our minds.
The stock market needs to go away
Quit buying anything g but food. Make them hurt
Hey realDonaldTrump way to go with the Dow today. Moron 1000 points lost ha ha jerk. Economy is fantastic thanks.
The big money players are liquidating into cash/gold? They know tRumps last act will be to totally destroy the economy when he loses. That's why tRump has been stealing from govt via golf, campaigning and decorating.
Is this because the tech companies won't stop promoting nazis and Qanon?
That's a sample of what will happen if biden wins. America stock market will crash.
You can't put your trust in the economy... only in God.
TrumpsAmerica
Fauci
Thanks Trump
Because of the Trump tweet, don't forget to mention that.
As big 'coastal elite' tech goes the stock market goes.
Why does Dow Jones suddenly hate Trump?
time to move emerging market !!
Awesome
But it wuz up 450 yesterday! Wut happen?
wee number go down
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