US Market today: What led to the fall in the US stock market? Check top gainers and losers
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What happened in the US stock market today?
- Markets extended losses for the third day, as fears of aggressive interest rate hikes continued to hurt sentiments.
- Nasdaq down 1.1%, Dow fell 1% and SP 500 ended 1.1% lower.
- Almost all sectors ended with losses, with banking stocks falling the least. Energy was the worst performer.
- Baidu shares fell more than 6% after its revenue fell in the Apr-Jun 22 quarter.
- Semiconductor stocks took a nosedive. The VanEck Semiconductor ETF fell more than 2%, bringing its year to date losses back to more than 30%.
Did you know?
If you were running a weekly SIP of ₹1,000 in Netflix shares for the last 10 years, the approximate current value would have been?
Netflix's share price has risen by more than 2,300% in the last 10 years. The current value would have been approximately ₹87 Lakh if you were running a weekly SIP of INR 1,000 for last 10 years.
If you were running a weekly SIP of ₹1,000 in Apple shares for the last 10 years, the approximate current value would have been?
Apple's share price has risen by more than 600% in the last 10 years. The current value would have been approximately ₹23 Lakh if you were running a weekly SIP of INR 1,000 since last 10 years.
US stock market today: Top gainers and losers
| Stocks | Reason |
| Apple dropped 2% | Apple share price extended fall ahead of its product launch event on 7th Sept. US Fed's aggressive plan to control inflation also led to fall in Big Tech stocks. |
| ARK Genomic Revolution ETF crashed 2% | ARK Genomic Revolution ETF price extended fall driven by losses in underlying stocks of Pacific Biosciences of California, Fate Therapeutics and CareDx. |
| ARK Innovation ETF fell 1% | ARK Innovation ETF price declined driven by losses in underlying stocks of Unity, Tesla and Spotify. |
| Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares ETF crashed 10% | Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares ETF price crashed tracking the losses in the energy stocks of Antero Resources, Devon Energy and Marathon Petroleum. |
| Direxion Daily Semiconductor Bull 3X ETF crashed 4% | Direxion Daily Semiconductor Bull 3X ETF price fell sharply tracking the losses in chip stocks of NVIDIA, Intel and Marvell Technology. |
| Direxion Daily Technology Bull 3X ETF crashed 3% | Direxion Daily Technology Bull 3X ETF price fell sharply on the back of sharp fall in NVIDIA, Apple and PayPal. |
| Global X Lithium & Battery Tech ETF fell 2% | Global X Lithium & Battery Tech ETF price fell tracking the sharp losses in underlying shares of Albemarle. |
| HP lost 1% | HP share price extended losses over weak business growth outlook, share down 6% in post-market hours. |
| Invesco NASDAQ 100 ETF sank 1% | Invesco NASDAQ 100 ETF price extended fall tracking the losses in Tech stocks heavy Nasdaq index, increased uncertainty over US Fed's plan of inflation control led to decline. |
| Invesco QQQ Trust Series 1 ETF lost 1% | Invesco QQQ Trust Series 1 ETF price extended fall tracking the losses in Tech stocks, increased uncertainty over US Fed's plan of inflation control led to sell-off. |
| Microsoft fell 1% | Microsoft share price extended fall along with other big tech stocks driven by increased uncertainty over US Fed's plan of inflation control. |
| Molecular Data crashed 12% | Molecular Data share price fell sharply over reports of regulatory probe on its IPO banker in Hong Kong. |
| Netflix fell 2% | Netflix share price fell over reports of its new subscription plan based on ads might be priced lower than anticipated. |
| NVIDIA fell 2% | NVIDIA share price extended fall over weak data-centre business growth and declining of its gaming revenue. |
| ProShares Bitcoin Strategy ETF crashed 1% | ProShares Bitcoin Strategy ETF price fell tracking the losses in Bitcoin prices and trading volumes. |
| ProShares Ultra Semiconductors declined 3% | ProShares Ultra Semiconductors ETF price fell sharply tracking the negative trend in chip stocks of NVIDIA, Intel and QUALCOMM. |
| ProShares UltraPro S&P 500 ETF lost 3% | ProShares UltraPro S&P 500 ETF price fell tracking the losses in S&P 500 index amid uncertainty over US Fed's plan of inflation control. |
| Snap crashed 3% | Snap share price fell sharply over reports of another 20% employees' layoff, stock down another 6% in post-market hours trading. |
| Tesla fell 3% | Tesla share price extended post-split slide, analysts expect weak business growth than anticipated. |
| Unity Software lost 4$ | Unity Software share price fell sharply tracking the uncertainty over the IronSource, AppLovin acquisition plans. |
| Vanguard S&P 500 Growth ETF lost 1% | Vanguard S&P 500 Growth ETF price extended fall tracking the losses in growth stocks, increased uncertainty over US Fed's plan of inflation control led to sell-off. |
What happened in the US stock market today?
Markets extended losses to the third day. Nasdaq down 1.1%, Dow fell 1% and SP 500 ended 1.1% lower.
What led to the fall in the US stock market?
Fears of interest rate hikes due to rising inflation continue to hurt sentiments.
What happened to sectors in the US stock market?
Almost all sectors ended with losses, with banking stocks falling the least. Energy was the worst performer.
What happened to short term interest rates?
Interest rates continued to soar higher as investors bet on more aggressive interest rate hikes.
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