Market Turmoil, Government Shutdown Impact Economy

November 9th: Tech Stocks Plummet, Government Shutdown Impacts Economy; Yahoo Finances Invest Event AheadThe stock market faced a challenging week, with tech stocks experiencing significant losses. The Nasdaq index dropped three percent, while the S&P five hundred and Dow Jones also saw declines. Investors are concerned about high valuations, particularly in the AI sector.The longest government shutdown in history continued, affecting consumer sentiment and economic data releases. US consumer sentiment plunged to a three-year low, with Americans worried about the shutdowns impact on the economy and their finances. Job cuts in October reached their highest level since 2003, indicating broader economic strain.Looking ahead, investors will receive third-quarter earnings reports, but key economic data may be delayed due to the shutdown. This week also features Yahoo Finances virtual Invest event, with notable guests like Pfizer CEO Albert Bourla and Robinhood CEO Vlad Tenev.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.