- US technology giants' shares experienced a third consecutive week of decline, marking their longest downward streak in 2023. Global concerns about rising interest rates impacted investor confidence, leading to a drop in tech stock prices. Despite a slight recovery in stock prices during the closing minutes of the trading session, the S&P 500 index and Nasdaq ended lower, while the Dow Jones index concluded slightly higher.
- Amidst fears of a looming recession subsiding, Many investors are now grappling with challenges such as stagnant inflation and the potential for increased monetary tightening. Consequently, riskier assets like Bitcoin faced an 8% decline, and Oil registered its first weekly loss since June.
Why it matters
The decline in technology giants' shares, coupled with broader stock market shifts and the impact on various assets, underscores the sensitivity of markets to factors like interest rate changes and global economic conditions. The contrast between the different indices' performances and the challenges investors face in light of inflation concerns and monetary policy shifts highlight the complexity of the current financial landscape.