Tech-heavy Nasdaq sinks into correction zone as equity selloff worsens
- Worries over tech earnings and a slowing US economy slammed the Nasdaq Composite Index on Friday, putting it on track for a 10% decline from its early July record high, commonly termed a "correction" by market participants.
"This is an old-fashioned correction going on," said Tom Plumb, chief executive and portfolio manager at Plumb Funds. “We passed the economic torch from the perception of growth to the perception of needing government intervention with lower interest rates to stabilize the economy.” From why Microsoft will have to wait for a boost from the bots to how OpenAI has Google in its sights.
"I would look at this as the correction a lot of people were expecting to see coming into the summer. All kinds of things are piling on top of each other to make the market nervous," he said.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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