Impact of Mega-Cap Tech Stock Decline on Broader Equity Market

Thursday, 11 July 2024, 22:11

The recent decline in mega-cap tech stocks has had a significant impact on the broader equity market. The S&P 500 Index closed down -0.88%, while the Nasdaq 100 Index saw a significant drop of -2.24%. In contrast, the Dow Jones Industrials Index closed up marginally at +0.08%. This market update highlights the mixed performance of major stock indexes amid the tech stock slump.

Market Update: Mega-Cap Tech Stock Slump

The S&P 500 Index ($SPX) closed down -0.88%, while the Nasdaq 100 Index ($IUXX) closed down -2.24%.

Stock Indexes Performance:

  • The Dow Jones Industrials Index ($DOWI) closed up +0.08%.
  • The market settled mixed with the Dow Jones climbing to a 7-week high.

This update underscores the impact of the mega-cap tech stock slump on the equity market.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


Related posts


Newsletter

Subscribe to our newsletter for the most reliable and up-to-date tech news. Stay informed and elevate your tech expertise effortlessly.

Subscribe