A plunge ravaged Wall Street today, with the Dow and Nasdaq shedding triple digits in a ruthless tech selloff spearheaded by Apple’s decline. The feverish drop marked their worst single-session performance since Feb. 13, dragging the S&P 500 down as well from recent highs. This market turmoil was further accentuated by the Cboe Volatility Index (VIX) surging fiercely—achieving its most substantial daily percentage rise since the fortnight prior.
For a deeper dive into today’s market upheaval, here are more notable events:
- Market history whispers caution on bank stocks for now.
- Foot Locker braces for its earnings ascent.
- Also, tech woes deepen as China’s headwinds blow; GTLB grapples with a significant slump; and Target emerges victorious amidst earnings expectations.
5 Key Highlights from Today’s Events
- Apple confronts fierce competition in China, impacting its performance. (CNBC)
- Dartmouth College’s Men’s basketball team makes history by voting to unionize. (Reuters)
- China’s economic landscape weighs down on 2 tech stocks.
- GitLab stock plummets amid a bleak quarterly outlook.
- Despite a weak sales forecast, Target stock remains resilient.
Bullion Marks 3rd-Straight Win, Record High
Oil prices stumbled today as investors pondered energy demand in light of China’s economic strategies. For the day, April-dated West Texas Intermediate (WTI) crude faltered by 59 cents, or approximately 0.8%, to close at $78.15 per barrel.
Conversely, amidst mounting expectations of an impending interest rate cut by the Federal Reserve, gold prices continued their ascent, notching a record high for the third consecutive session. The precious metal’s value swelled by $15.60, or 0.7%, concluding the day at $2,141.90 per ounce.
