GoBankingRates provided several immediate impacts that would affect Wall Street and other financial institutions following US President Joe Biden’s decision to stand down from the race to the White House.
Tags: Stock market
US Tech Giants Suffer $1 Trillion Wipeout Following Massive Market Decline
Tech giants in the US lost approximately $1 trillion in market value this week due to recession fears and disappointing economic data, with sharp declines in Nvidia, Apple, and Amazon.
Meta's Stock Rises After Better-Than-Expected Q2 Earnings
Shares of the big tech company Meta jumped by about 7% in extended trading on July 31 after exceeding Wall Street expectations on revenue and profit for the second quarter of 2024.
Microsoft to Spend More Funding to Develop AI Infrastructure
Microsoft said that it would increase its spending on developing its artificial intelligence infrastructure despite a slowed growth in its cloud business.
ASX Starts Strong This Week Due to Inflation
The Australian Stock Exchange (ASX) began its trading week strong after stocks based in the United States finished last week on the red, with investors continuing to bet that the Reserve Bank of Australia (RBA) would start cutting interest rates by September.
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Share markets across Asia are expected to stay in the red after last week’s tech bloodbath, as well as the shock announcement of US President Joe Biden bowing out of the presidential race in November.
As UK IPOs declined, the Financial Conduct Authority (FCA) has proposed new regulations for stock market listings.
Shares of the TSMC rose to a record intraday high in Taipei’s stock market after Morgan Stanley and other brokers boosted price targets on the company before its earnings.
Nvidia officially surpassed Microsoft Tuesday (June 18) as the world’s most valuable company after its stock price is valued at $135 per share.
BTS’s talent agency Hybe is selling 750,000 of its shares with SM Management for a total of $50 million while it is dealing with estranged ADOR CEO Min Hee-Jin.
Nvidia's strong earnings report led to major market gains, with the Nasdaq and S&P 500 surging on Thursday, driven by optimism about the ongoing AI rally.
Nvidia reported a stronger-than-expected first quarter revenue forecast, including an announcement of a stock split after its shares reached the $1,000 mark.
Former Cisco CEO John Chambers says AI will be the reason for the stock market's surge in the next decade, citing Nvidia's success following their AI-driven projects.
GameStop plummeted 26% on the stock market on May 17 after a week-long attempt to sell up to 45 million shares.
