US Stock Market Indices Extend Losses
CryptoNewsTerminal Staff20 Aug, 2024
US Stock Market Indices Extend Losses
The major indices of the US stock market extended their losses on Thursday, continuing a sell-off that began earlier in the week. The S&P 500 closed 0.20% lower, the Nasdaq Composite lost 0.33%, and the Dow Jones Industrial Average slipped by 0.15%. The sell-off was broad-based, with all sectors of the market posting declines. Tech stocks were particularly hard hit, with the Nasdaq Composite suffering its worst day since May 2022. The sell-off comes as investors grow increasingly concerned about the potential for a recession in the United States. The Federal Reserve is raising interest rates in an effort to combat inflation, and this is starting to weigh on economic growth. Additionally, the war in Ukraine and the ongoing COVID-19 pandemic are adding to uncertainty in the market. It is unclear how long the sell-off will last. However, investors should be prepared for further volatility in the markets in the coming weeks and months.
