US Market today: US stock market fell more than 3% on fear of aggressive rate hikes by Fed

US stock market news today
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What happened in the US stock market today?

  • US Markets ended sharply lower. Nasdaq down 3.9%, Dow fell 3% and S&P 500 ended 3.4% lower.
  • Stocks fell on Fed Chair Jerome Powell's hawkish comments indicating higher interest rates in place for a longer time.
  • All major sectors ended lower with IT, consumer discretionary, communication services dragging the markets.
  • Affirm stock tanked 21% after posting larger-than-expected quarterly loss and disappointing outlook.
  • For the week, Dow slid 4.2%, S&P 500 and Nasdaq fell roughly 4% and 4.4%, respectively.

US Most Active Stocks Today

Stock price actionReason behind the move
Amazon fell 5%Amazon share price crashed along with other Big Tech stocks as US Fed chairman's push for aggressive rate hike triggered sell-off in US stocks.
Apple crashed 4%Apple share price fell along with other big tech stocks amid uncertainty over US Fed's plan of inflation control.
Arcimoto lost 5%Arcimoto share price extended fall amid weakness in Tech & growth stocks over aggressive rate hike plan by US central bank, a downgrade and target price cut by analysts.
ARK Genomic Revolution ETF crashed 6%ARK Genomic Revolution ETF price fell driven by losses in underlying stocks of Pacific Biosciences, Fate Therapeutics and Teladoc Health.
ARK Innovation ETF fell 6%ARK Innovation ETF price fell sharply driven by losses in underlying stocks of Unity Software, Coinbase and Twilio.
Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares ETF fell 2%Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares ETF price fell tracking the losses in the energy stocks of Marathon Petroleum and Devon Energy.
Direxion Daily Semiconductor Bull 3X ETF crashed 17%Direxion Daily Semiconductor Bull 3X ETF price fell sharply tracking the losses in chip stocks of Advanced Micro Devices, NVIDIA and Marvell Technology.
Direxion Daily Technology Bull 3X ETF crashed 13%Direxion Daily Technology Bull 3X ETF price fell sharply on the back of sharp fall in NVIDIA, PayPal, Microsoft and Apple shares.
Google fell 5%Google (Alphabet) share price fell sharply along with other tech stocks post an announcement of aggressive rate hike plan by US central bank at Jackson Hole meeting.
HP crashed 9%HP share price fell sharply post weak growth outlook by its competitor Dell, weakness in broad market over aggressive rate hike plan by US central bank.
Invesco NASDAQ 100 ETF crashed 4%Invesco NASDAQ 100 ETF price fell sharply tracking the losses in Tech stocks heavy Nasdaq index, increased uncertainty over US Fed's plan of inflation control led to sell-off.
Invesco QQQ Trust Series 1 ETF lost 4%Invesco QQQ Trust Series 1 ETF price fell sharply tracking the losses in Tech stocks, increased uncertainty over US Fed's plan of inflation control led to sell-off.
Microsoft lost 4%Microsoft share price fell sharply along with other big tech stocks driven by increased uncertainty over US Fed's plan of inflation control.
Netflix lost 5%Netflix share price fell sharply along with other Tech & growth stocks in a sell-off in US stocks triggered by aggressive rate hike plans announcement by US central bank at Jackson Hole meeting.
NVIDIA fell 9%NVIDIA share price crashed along with other tech, chip stocks over US central bank chief's comment on aggressive rate hikes, weak revenue growth outlook for NVIDIA hurt investor sentiments.
ProShares Bitcoin Strategy ETF crashed 5%ProShares Bitcoin Strategy ETF price fell tracking the losses in Bitcoin prices and trading volumes.
ProShares Ultra Semiconductors crashed 12%ProShares Ultra Semiconductors ETF price fell sharply tracking the negative trend in chip stocks of Nvidia, QUALCOMM and Broadcom.
ProShares UltraPro S&P 500 ETF lost 10%ProShares UltraPro S&P 500 ETF price fell tracking the losses in S&P 500 index post an announcement of aggressive rate hike plan by US central bank at Jackson Hole meeting.
Salesforce fell 5%Salesforce share price fell sharply over reports of firm slashing its revenue outlook amid $10 Billion share buyback.
Unity Software crashed 9%Unity Software fell sharply over reports of insiders (key executive) selling the stocks, weakness among growth stocks post announcement of aggressive inflation control plan by US central bank.
Upstart fell 10%Upstart share price fell sharply along with other financial stocks over US central bank chief's comment on inflation control plan sparking tech and growth stock sell-off.
Vanguard S&P 500 Growth ETF lost 4%Vanguard S&P 500 Growth ETF price fell sharply tracking the losses in growth stocks, increased uncertainty over US Fed's plan of inflation control led to sell-off.
  • Why did US markets end lower?

  • Why did Affirm share price fall 21% ?

  • Why is Salesforce stock falling?

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