Elite Capital International: Major Indices down for three straight days as Tech sell-off continues

It seems that the historically called rough month just took its effect this week, bringing major indices to the bottom as investors continued to dump ‘biggest-gainer’ tech shares which dragged down today’s market.

Apple and Microsoft both slid around 6% and 5%, respectively. Amazon and Facebook shares are also down by 4%. Tesla fell about 21%, its biggest dropped yet in a single day session.

Nvidia and Micron’s shares, companies most known as chipmakers, dropped about 5% and 3%, respectively. The movements come down after US President Donald Trump raised for the second time the idea of ditching China as business partner, claiming the U.S. would not lose out financially if the country is separated with them.

With this, investors are closely monitoring the tension and analyzing if tech shares will recover any time soon.

Here are the main movements in Stock Market this Tuesday;

Stocks

– S&P 500 declined around 95.12 points or 2.78% lower to 3,331.84, as of 4:00p.m., as of New Yorks time.
– The Dow Jones Industrial Average dipped quite big about 632.42 points or 2.25% to 27,500.89.
– Nasdaq Composite also slid around 465.44 points or 4.11% down to 10,847.69, its lowest dropped yet to date since July.

Bonds

– The yield on the benchmark 10-year Treasury note dropped 4 basis points at 0.678%.
– The yield on the 30-year Treasury bond also depreciates about 6 basis points to 1.411%.

Commodities

– Gold increased a few points around 1.44 or 0.07% to $1,930.55 an ounce.
– Silver dipped almost half a point or 1.29% to $26.53 an ounce.
– West Texas Intermediate crude slid about 3.01 points or 7.57% lower to $36.76 per barrel.
– Brent crude has little change down to $39.80 per barrel.

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