Welcome to your daily Stock Market Summary from MARKETSNAP, where we dive into the latest market action and trends to keep you informed and ahead of the game!
Today was a tough day for the markets, with all major indexes taking a dive. The Dow Jones dipped by over 2%, while the tech-heavy Nasdaq fell a significant 4%. Not to be left out, the S&P 500 and Russell 2000 also saw declines, losing around 2.7% and 2.72%, respectively. The volatility index, VIX, jumped by over 19%, reflecting the heightened market uncertainty.
In the realm of large caps, some interesting movements caught our attention. Airbnb and DraftKings stood out as top gainers, despite the overall market downturn. On the flip side, big names like Alibaba, AppLovin, and Carvana took a hit, with AppLovin dropping nearly 12%.
Among the most active stocks, NVIDIA and Tesla were in the spotlight, both experiencing notable declines. Tesla, in particular, fell by over 15%, adding to its recent volatility.
Sector-wise, Utilities and Consumer Non-Durables managed to eke out small gains, while Energy Minerals and Industrial Services were among the worst performers, both suffering notable losses.
Looking at the earnings calendar, last week’s reports showed mixed results with some companies exceeding expectations, like Zoom and Intuit, while others like First Solar fell short. As we gear up for this week’s earnings, keep an eye on big names like Costco and JD.com, which are set to report soon.
That’s a wrap for today’s market summary! Stay tuned to MARKETSNAP for more insights and updates to help you navigate the financial markets. Until next time, keep your investment strategies sharp and your eyes on the prize!
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