Stock Markets Plunge: Tech Sector Hit Hard

Stock markets in Canada and the US experience significant drops, mirroring a similar sell-off on Wall Street. Canadas S&P/TSX composite index falls by nearly two percent, with technology shares hit particularly hard due to concerns about high valuations. In the US, stock futures point lower, suggesting continued declines, as investors lose confidence in a potential interest rate cut by the Federal Reserve. The Dow Jones Industrial Average loses almost eight hundred points, with the S&P five hundred and NASDAQ Composite also seeing substantial drops. Applied Materials warns of a fall in spending on chipmaking gear in China, and all eyes are on Nvidias upcoming quarterly results.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.