Stocks Drop as Tech Giants Stumble; Bitcoin Volatile on Day of Mixed Economic Data

• Major indices experienced losses as mega-cap tech stocks like Tesla, Apple plunged; Bitcoin hit new high then plunged 6%

• Mixed economic data - ISM Services PMI lower than expected; factory orders declined sharply

• Treasury yields dropped as investors considered likelihood of Fed rate cuts in 2024

• Multiple companies reacted to earnings reports - NYCB, TGT rose; ALB, GTLB, SOFI declined

• Nordstrom, Ross Stores, Box, CrowdStrike, ChargePoint to report earnings after market close