On Monday afternoon, the stock market experienced a significant downturn, with the Dow Jones Industrial Average plummeting nearly 2.7% or 1,000 points, marking its worst day in almost two years. The S&P 500 Index also dropped by 2.7%, while the Nasdaq composite fell by 3.7%. This decline was attributed to both overseas market trends and concerns regarding the U.S. economy, particularly following a disappointing jobs report that raised fears of a potential recession.
Several prominent tech giants, including Apple, Amazon, and Nvidia, were among the worst-performing stocks on Monday, as investors opted to sell off their shares. Notably, Nvidia experienced a 12% decline, Apple lost 9.3%, Amazon dropped 7.4%, and Meta saw a 7.6% decrease in stock value. Google and Microsoft also faced losses of 5.4% and 4.9%, respectively.
