Tech stocks slump amid weak economic data – NVDA loses $246 bil as market shows signs of exhaustion

Tech gets slapped, NVDA loses $246 billion of value. Bonds hold, oil rises, gold surges. S&P rebalance & Triple Witching – But don’t expect any disasters. Try the One Pan Thighs. The theme on Thursday was Exhaustion. Exhaustion is defined as ‘a state of extreme physical or mental fatigue’. But before we go there, let’s make sure to discuss how the S&P breached another century mark before it pulled back….that is the 8thcentury mark since January 1st, 2024….

just another example. The FED while softening a bit, remains committed to the trade – holding rates here for longer than many thought possible…as they try to kill the inflation monster – which Neely Kashkari told us yesterday- most likely will take another year or two! Just a note – the FED held rates at zero for 14 yrs. – ….they only started to raise rates in March 2022 – and didn’t hit 5% until May 2023….

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