Friday, 02 August 2024: US equity markets logged sharp declines amid a fresh sell off for the technology sector

Aug 2, 2024 · 7m 1s
Friday, 02 August 2024: US equity markets logged sharp declines amid a fresh sell off for the technology sector
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US equity markets logged sharp declines amid a fresh sell off for the technology sector and following the release of some weak economic data - Dow fell -495-points or -1.21%,...

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US equity markets logged sharp declines amid a fresh sell off for the technology sector and following the release of some weak economic data - Dow fell -495-points or -1.21%, paring an earlier decline of ~744 points.
The broader S&P500 dropped -1.37%, with Information Technology falling -3.36% and handing back much of the previous session’s +3.95% rally.

Energy (down -2.56%) and Consumer Discretionary (-2.25%) both fell over >2% to be among six of the eleven primary sectors that settled in the red.

The more defensive Utilities (up +1.85%) and Real Estate (+1.58%) sectors sat atop the primary sector leaderboard overnight.
The Nasdaq -2.3%. Nvidia Corp fell -6.67%.
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Author Morgans Financial Limited
Organization Morgans Financial Limited
Website -
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