The US stock market tumbled sharply at the start of September, driven by a mix of weak economic data and heightened concerns around the AI sector. Manufacturing data for August remained weak, sparking fears of economic slowdown, while the Volatility Index surged by over 30% to around 20 points.
The Philadelphia Semiconductor Index dropped by over 7.75%, with Nvidia leading the losses by plunging 9.5%, wiping out $279 billion in market value due to news of an investigation launched by the US Department of Justice into antitrust practices in AI. The antitrust authority had previously sent out questionnaires, and now it has issued legally binding requests to Nvidia. Officials are concerned that the chip manufacturer is hindering the transition to other suppliers and penalizing buyers who do not exclusively use its chips.
Investors reacted not only to disappointing US data but also concerns about the broader AI hype. The US100 (Nasdaq 100 Index) dropped 3.80%, and chip stocks took a significant hit globally. With September being historically challenging for equities, investors are becoming cautious ahead of key reports from the labor market later this week. The confluence of factors including high valuations in tech and concerns about the economic downturn added to the pressure.
US100 (D1 interval)
Futures on the US100 index continue their sell-off today after yesterday's sharp decline. The index is down nearly 0.60%, falling below the 19,000-point mark. A strong downward reaction began about two weeks ago after testing the 20,000-point level once again. This zone now represents the most significant resistance for the bulls. However, bears are currently dominating the market, and the nearest support level for the ongoing decline could be around 18,600 points.
Source: xStation 5
ملخص اليوم: تراجع العقود الآجلة الأمريكية وسط توترات جيوسياسية وموجة تضخمية
العقود الآجلة تتراجع لمؤشر ستاندرد آند بورز 500 بنسبة 1% وسط تصريحات متشددة من جانب الاحتياطي الفيدرالي وبيانات قوية.
افتتاح السوق الأمريكي: المؤشرات تتوقف بسبب مؤشر أسعار المنتجين، والبنوك تحت وطأة البيانات
ملخص منتصف النهار: تباين في المعنويات في أوروبا، وانخفاضات في المؤشرات الأمريكية
