Both the S&P 500 and Nasdaq experienced their worst week since April, with the Nasdaq falling 3.6% amid concerns over potential tighter U.S. semiconductor export restrictions to China and comments from Donald Trump regarding Taiwan. The “Magnificent Seven” tech stocks saw a collective 5% decline, with semiconductor companies like Nvidia and Intel dropping nearly 9%. Additionally, CrowdStrike’s stock plummeted 20% due to a global technology outage attributed to a faulty software update, while electric vehicle stocks faced pressure from Trump’s criticism of clean energy initiatives.
Month: July 2024
Actionable Insight – July
Politics take centre stage in the markets. Meanwhile, the US economy is experiencing slowing growth, rising unemployment, and cooling inflation, suggesting imminent interest rate cuts. In China, efforts to stimulate local demand are falling short, and the banking sector is under significant stress.
Weekly Newsletter – 28th June , 2024
US markets once again ended the week largely flat, as political developments in the US and France captured investor attention. Despite easing inflation, US Treasury yields rose due to uncertainty around the upcoming elections. The US dollar strengthened, while the Japanese yen hit a 38-year low against the dollar.