UN Women/Ryan Brown
Six significant U.S. technology businesses lost over $500 billion in market value as a result of stock declines in response to the publication of an August's inflation report. The greatest losers were Amazon, Apple, and Microsoft.
The high-tech index ended the day at 11,633.5 while the Nasdaq Composite dropped 5.16% (the worst performance of the day since June 2020). The S&P 500 Index dropped 4.32% to 3,932.69, and the Dow Jones Industrial Average dropped 1,276.37 points, or 3.94%, to settle at 31,104.97. According to Forbes USA, it was the worst day for all three indices in 2022.
The consumer price index increased 0.1% month-over-month and 8.3% yearly. Following a decrease in gas prices, analysts expected a 0.1% monthly decline in inflation and an 8.1% annual increase.
source: cnbc.com
The high-tech index ended the day at 11,633.5 while the Nasdaq Composite dropped 5.16% (the worst performance of the day since June 2020). The S&P 500 Index dropped 4.32% to 3,932.69, and the Dow Jones Industrial Average dropped 1,276.37 points, or 3.94%, to settle at 31,104.97. According to Forbes USA, it was the worst day for all three indices in 2022.
The consumer price index increased 0.1% month-over-month and 8.3% yearly. Following a decrease in gas prices, analysts expected a 0.1% monthly decline in inflation and an 8.1% annual increase.
source: cnbc.com
