Investing.com-- The Dow plunged more than 1000 points Monday as growing concerns over an economic slowdown put the squeeze on high-flying technology stocks.These hefty losses followed on last week's selloff on fears of an economic slowdown.
"We now expect faster cuts because the funds rate looks more clearly inappropriately high; the Fed looks behind, having worried too much about inflation for too long and held steady in July; and the rationale for cutting now includes the more urgent priority of supporting the economy," Goldman Sachs said in a recent note.Federal Reserve speakers will be closely watched this week as investors priced in aggressive rate cuts ahead.
Some on Wall Street aren't sure, with Morgan Stanley saying in a recent that"there is clear evidence of cooling, it is still too noisy to justify a 50bp cut in September."), meanwhile, fell more than 6% after a Federal judge on Monday ruled that Google is"monopolist" and violated antitrust laws in search and text advertising markets.) stock fell 7% after reports of a delay in the launch of the chipmaker’s upcoming artificial-intelligence chips due to design flaws.
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