Dow, Tesla and Elon Musk
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Wall Street, stocks and Falling Technology
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Market participants are weighing still-solid earnings against both expectations and an increasingly opaque economic picture.
The stock market fell again on Thursday as Wall Street continued to sell riskier technology and consumer discretionary stocks in the wake of some weaker labor market data. The Dow Jones Industrial Average fell 397 points, or 0.8%. The S&P 500 was down 1.1%. The Nasdaq Composite dropped 1.9%.
Stock futures were little changed Thursday, a day after major indexes rebounded from a selloff in tech stocks caused by worries of AI valuations.
The major gauges have reached a holding pattern in a volatile week with investors seeking firm news on tariffs, earnings and Tesla.
Dow, S&P 500, and Nasdaq futures are falling in premarket trading as the stock market digests the latest labor market data.
US stock market crash deepened Thursday as AI overhype fears collided with bleak jobs data. Dow Jones fell 0.8%, S&P 500 dropped 0.9%, and Nasdaq tumbled 1.6%. Challenger data showed 153,074 layoffs in October — the worst since 2003.
The U.S. stock market was mostly rising midday Friday, with Big Tech helping to fuel a potential third straight week of gains for major benchmarks as companies rolled out earnings results. The Dow Jones Industrial Average was down almost 7 points midday Friday,