NVIDIA's decline weighs on major stock indices
NVIDIA shares fell 3.5%, disrupting the recent positive trend in the stock market and dragging down the S&P 500 and Nasdaq 100. Investors are now looking ahead to Jerome Powell's expected dovish comments at the upcoming Jackson Hole meeting.
Analysts additionally note that the performance of the technology sector remains a key indicator of overall market sentiment. Volatility is expected to persist until new macroeconomic data is released. Read more at the link.
Profit-taking pressures S&P 500 and Nasdaq
On August 20, the S&P 500 slipped 0.59% and the Nasdaq 100 dropped 1.46%, while the Dow Jones edged slightly higher. Investors started taking profits amid concerns over market overbought conditions and in anticipation of Powell's remarks in Jackson Hole.
Experts believe the Fed Chairman's upcoming statement could set the tone for index movements over the coming weeks. At the same time, analysts warn that uncertainty in monetary policy may trigger short-term sell-offs. Read more at the link.
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