Robinhood and Nvidia lead market plunge amid economic jitters
==========

U.S. equities plunged on Monday as investors braced for days of volatility amid rising concerns over a slowing US economy and overheated gains in the technology sector. The S&P 500 Index sank 3%, its biggest one-day drop since September 2022, and the tech-tracking Nasdaq 100 Index slid by a similar amount. Megacap tech high-fliers like Nvidia Corp. and Apple Inc. bore the brunt of the losses. Concerns over the health of the U.S. economy took center stage after data showed rising unemployment levels in July. Warren Buffett's Berkshire Hathaway slashed its stake in Apple by almost 50% in the second quarter. Nvidia's highly anticipated Blackwell chips may be delayed due to design flaws, potentially impacting big tech firms from Meta to Microsoft. Turbulence in markets in Japan is also rippling across global markets. European stocks plunged amid a deepening global rout in equities and a rotation away from technology shares. Asian currencies gained against the dollar, buoyed by rising dovish wagers for the Federal Reserve and falling Treasury yields.

#MarketPlunge #EconomicJitters #TechnologySector #S&p500 #Nasdaq100 #Nvidia #Apple #UnemploymentLevels #BerkshireHathaway #BlackwellChips #Japan #EuropeanStocks #AsianCurrencies #FederalReserve

https://fortune.com/2024/08/05/robinhood-nvidia-tech-giants-led-market-plunge-amid-economic-jitters/