Tech giants in the US lost approximately $1 trillion in market value this week due to recession fears and disappointing economic data, with sharp declines in Nvidia, Apple, and Amazon.
Tags: Stock market
Stock Market Wobbles As Tech Sells Off Ahead Of Key Data, Nvidia Earnings
The S&P 500 fell roughly 0.8%, marking its fourth consecutive day of losses. The Dow Jones Industrial Average dropped nearly 500 points, or more than 1%, while the Nasdaq Composite slid 1.2%, extending a multi-day pullback in the market's most heavily weighted technology names.
SoftBank Offloads Nvidia Stake for $5.8B, Trims T-Mobile Holdings to Fund $22.5B OpenAI Investment
SoftBank is divesting assets, including Nvidia and T-Mobile shares, to fund its $22.5 billion investment in OpenAI, highlighting its shift towards AI focus.
Bill Ackman's Bet on Beleaguered Hertz is Up 90% as Stock Jumps 35% After First Profits in Two Years
Bill Ackman's Pershing Square has bought over 15.2 million Hertz shares since Q4 2024, with profits exceeding 90% after the company reports its first profits in two years.
Warren Buffett's $107M Q2 Investment in Door Security Tech Company Allegion has Already Gained 20%
Berkshire Hathaway's Q2 investment in Allegion has yielded 20% profit, driven by global expansion, strong Q3 results, and effective tariff management, boosting investor confidence.
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Shares of the big tech company Meta jumped by about 7% in extended trading on July 31 after exceeding Wall Street expectations on revenue and profit for the second quarter of 2024.
Microsoft said that it would increase its spending on developing its artificial intelligence infrastructure despite a slowed growth in its cloud business.
The Australian Stock Exchange (ASX) began its trading week strong after stocks based in the United States finished last week on the red, with investors continuing to bet that the Reserve Bank of Australia (RBA) would start cutting interest rates by September.
Billionaire investor Bill Ackman’s firm Pershing Square announced that it was postponing its initial public offering, saying that there was an ‘enormous sensitivity’ to the size of the transaction.
French private equity firm L Catterton reportedly approached toymaker Mattel with an offer to acquire it, according to several sources quoted by Reuters.
GoBankingRates provided several immediate impacts that would affect Wall Street and other financial institutions following US President Joe Biden’s decision to stand down from the race to the White House.
Share markets across Asia are expected to stay in the red after last week’s tech bloodbath, as well as the shock announcement of US President Joe Biden bowing out of the presidential race in November.
As UK IPOs declined, the Financial Conduct Authority (FCA) has proposed new regulations for stock market listings.
Shares of the TSMC rose to a record intraday high in Taipei’s stock market after Morgan Stanley and other brokers boosted price targets on the company before its earnings.
