The Dow Sinks. A Tech Selloff Is On.
The Dow Jones sinks over 300 points as a tech selloff occurs due to investor fears of more Fed rate hikes, with Apple, Tesla, and Nvidia all experiencing significant declines.
Posted 9/6/2023, 6:17:00 PM
barrons.com
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Summary: The Dow Jones Industrial Average and other stock indexes experienced significant declines as market attention shifted to the upcoming speech by Fed Chair Jerome Powell at the Jackson Hole Economic Symposium, while Nvidia's gains were nearly wiped out after strong earnings and Tesla CEO Elon Musk issued a warning regarding the Cybertruck, although Box, NOV, and Automatic Data Processing showed strength.
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