STOCKS CRUSHED A Wall Street sell-off intensified amid mounting concerns over US economy Berlin - Delayed Quote • USD (4BPH.BE) Follow Compare 94.79 -0.36 (-0.38%) At close: 4:16 PM GMT+2 Related News Lucid, Palantir report earnings: Market Domination Overtime On today's episode of Market Domination Overtime, Hosts Julie Hyman and Josh Lipton break down the market close and what to watch on Tuesday, August 6th. Markets tanked on Monday, closing the session lower after widespread selling activity: the Dow Jones Industrial Average (^DJI) sank by 1,033 points (2.6%), the Nasdaq Composite (^IXIC) dropped off by 576 points (3.43%), and the S&P 500 (^GSPC) fell by 160 points (3.0%). iCapital Chief Investment Strategist Anastasia Amoroso explains that the sell-off has been gaining steam, but Monday's action "feels like a tantrum." Amid a slower economy, Amoroso expects defensive trades to outperform and points to tax-exempt municipal bonds as a good opportunity. She also believes real estate is a solid play, as it is a sector best positioned to benefit from an interest rate cut. While the technology sector is being hammered by a global sell-off, Amoroso argues that in the longer-term, investors could buy some of the semiconductor stocks that benefit from AI on the dip. Lucid (LCID) shares are soaring in after-hours trading after reporting better-than-expected second quarter revenue. The EV maker also announced it has received a $1.5 billion commitment from the Public Investment Fund, Saudi Arabia's sovereign wealth fund. Similarly, shares of Palantir Technologies (PLTR) are rising after the company saw its revenues surge by 27% year-over-year in its second quarter earnings and raised its 2024 revenue guidance. Finally, Julie Hyman and Josh Lipton break down what to watch on Tuesday, August 6th, from Uber (UBER) earnings to the announcement of Kamala Harris's vice presidential pick. This post was written by Melanie Riehl Nvidia's reported Blackwell chip delay is 'hardly fatal' Among a broad market sell-off, tech stocks were among the worst performers — and Nvidia (NVDA) may be partly to blame. The chip giant is reportedly facing a delay in its Blackwell AI chips as investors anxiously await returns on AI investments. Wall Street Journal tech columnist Dan Gallagher joins Asking for a Trend to discuss the AI race and how a delay Nvidia's Blackwell chip may impact the chip giant. "It was going to always take a while for generative AI to build up into some kind of business, if it builds up. But all the investment for it has to come before that. And this is a lot of investment, billions and billions of dollars into buying these GPUs, building these new data centers. And so, I think there was always going to be these periods where the spending was going to really outweigh any kind of business or revenue story," Gallagher explains. He notes that despite a possible delay in Nvidia Blackwell chips due to design and performance issues, "a three-month delay is hardly fatal." He explains, "They are ahead of the competition by years. So if it turns out to be like the Blackwell comes out two or three months late, it's really just kind of shifting a little bit of revenue I think more than anything that's fatal." Gallagher adds that across the board, he expects chipmakers to have ambitious goals and move very fast, potentially hitting roadblocks along the way. For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend. This post was written by Melanie Riehl Monday's market action was a 'tantrum' amid a growing sell-off Markets were under pressure in Monday's session, as the Dow Jones Industrial Average (^DJI) sank by 1,033 points, the Nasdaq Composite (^IXIC) dropped by 576 points, and the S&P 500 (^GSPC) fell by 160 points. iCapital Chief Investment Strategist Anastasia Amoroso joins Market Domination Overtime to break down the movement and how investors could navigate this volatility. Amoroso explains that the sell-off has been gaining steam, and today's action "feels like a tantrum." She notes that the movement came down to "the systematic unwind of a lot of long positioning," as hedge funds were long technology, for one. She adds, "whenever you see this downward knee-jerk reaction, the first place you look at is technicals. And so I think that's what's at play today. But I do think there's something else that's in the background, and that is, of course, I call it 'market mood' to price in a recession." She explains that markets were spooked by July's jobs report and the idea that the Federal Reserve is behind the curve when it comes to interest rate cuts, which ultimately stoked fears of a recession. Amid a slower economy, Amoroso expects defensive trades to outperform and points to tax-exempt municipal bonds as a good opportunity. She also believes real estate is a solid play, as it is a sector best positioned to benefit from an interest rate cut. While the technology sector is being hammered by a global sell-off, Amoroso argues that in the longer-term, investors could buy some of the semiconductor stocks that benefit from AI on the dip. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Melanie Riehl Uber earnings, Harris VP announcement: What to Watch A wave of corporate earnings results are due out Tuesday, August 6, including ride-sharing giant Uber (UBER), Airbnb (ABNB), Super Micro Computer (SMCI), and Reddit (RDDT). Vice President Kamala Harris, the presumed Democratic nominee, is expected to make an announcement tomorrow regarding her own vice presidential running mate. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Luke Carberry Mogan. Nvidia shares tank as 'Magnificent 7' stocks lose more than $650 billion in market cap Nvidia led the Magnificent 7 stocks lower Monday as the group suffered a $650 billion market valuation wipeout. Google loses massive antitrust case over search, will appeal ruling Google will appeal a U.S. District Court judge's opinion Monday that found the technology giant acted illegally to maintain a monopoly in online search. The decision from Judge Amit P. Mehta of the U.S. District Court for the District of Columbia is a major defeat for Google that could alter the way it does business and even change the structure of the internet as we know it, should the decision stand. Mehta said that Google abused its monopoly power over the search business in part by paying co All eyes are on the future of the tech trade during sell-off The widespread sell-off in US equities (^DJI, ^IXIC, ^GSPC) continues just ahead of Monday's closing bell. The tech sector (XLK) has been a significant anchor dragging down tech-heavy indexes, but could this be a good thing for Big Tech's Magnificent Seven as investors were rotating out of tech before this broad selling activity even began? Josh Schafer outlines the year-to-date trends that brought the tech trade to new heights, now contending with new challenges, and how closely Wall Street will be watching Nvidia's (NVDA) second quarter earnings results on Wednesday, August 28. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Luke Carberry Mogan. Google loses antitrust trial in major blow to tech giant A judge has ruled that Google violated antitrust law by abusing its dominance in online search, a major blow for the tech giant and a huge win for Justice Department. How the market sell-off may impact retirement, rate cuts: Wealth! On today's episode of Wealth!, Host Brad Smith breaks down some of the biggest stories impacting your personal finances, from the global market sell-off to an interest rate cut in September from the Federal Reserve. The major indexes (^DJI, ^IXIC, ^GSPC) are slipping as recession fears trigger a widespread sell-off among investors. However, Fort Washington Investment Advisors co-chief investment officer Chris Shipley believes the current downturn shouldn't cause investor panic. He notes the market had "a certain vulnerability" due to expectations of economic growth and lower inflation. Yet, there turned out to be "a little more economic weakness than the market was banking on," indicating the economy is entering "a more substantial slowdown." He views the current situation as an ideal buying opportunity, pointing to companies like Nvidia (NVDA), which hasn't seen low share prices since March or April, noting: "When stocks are on sale, it's time to start taking a look." Zacks Investment Management client portfolio manager Brian Mulberry argues that the market has been "a little bit overdue for a pullback like this." Amid the sell-off, he encourages investors to focus on companies with high-quality balance sheets, multiple revenue streams, low levels of debt, and good cash flow metrics. He points to consumer staples (XLP) as good investment opportunities. Some investors are concerned about the pullback's effects on their long-term retirement investments. Vanguard senior wealth advisor Cassandra Rupp, CFP, says, "We can only control what we can control," and breaks down some of the biggest mistakes when managing 401(k) plans: "Everyone's time horizon can be different. I mean, if we're speaking to some of this reporting in 401(k)'s for retirement savings, depends on what stage of your career you're at. We're seeing an increase in participant deferral rates above 4% now. So we're seeing more and more individuals start to automatically save out of their paychecks into these types of plans." Yahoo Finance Senior Columnist Kerry Hannon adds that if you're investing in a retirement account, you will experience periods where you're buying high and periods where you're buying low. In the end, it'll most likely even out. In response to recent signs of economic weakness, Wall Street is convinced the Federal Reserve will almost certainly cut rates by 50 basis points at their September meeting. However, with investors believing the Fed may be delayed in rate reductions, speculation is growing about a potential cut even sooner. Yahoo Finance Senior Reporter Jennifer Schonberger breaks down the details, discussing how the Fed can implement rate cuts outside of their scheduled meetings and historical trends that prompted emergency rate cuts. This post was written by Melanie Riehl Stocks are 'on sale,' it's time to shop: Investment advisor US stock markets (^DJI, ^IXIC, ^GSPC) are in decline as recession fears trigger a widespread sell-off among investors. Fort Washington Investment Advisors co-chief investment officer Chris Shipley joins Wealth to share his perspective on downward market trends. Shipley suggests the current downturn shouldn't cause investor panic. He notes the market had "a certain vulnerability" due to expectations of economic growth and lower inflation. However, he observes there turned out to be "a little more economic weakness than the market was banking on," indicating the economy is entering "a more substantial slowdown." "I think there's a lot of reason still to be optimistic about avoiding recession, but right now the market is shooting first and asking questions later," Shipley explains to Yahoo Finance. Regarding investment strategies, Shipley views the current situation as an ideal buying opportunity. He points to companies like Nvidia (NVDA), which hasn't seen low share prices since March or April, noting: "When stocks are on sale, it's time to start taking a look." For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Angel Smith The two tech stocks to buy despite major sector sell-off Nvidia (NVDA) and Apple (AAPL) are driving the tech-heavy Nasdaq Composite (^IXIC) into turmoil amid a major sell-off on Wall Street. D.A. Davidson senior software analyst Gil Luria joins Morning Brief to discuss the market movement and his top tech stock picks despite the dip. "There's traders selling because they're covering their yen carry trade. There's computer algorithmic trading that's selling because those traders sold. And then there's index fund computers that are selling because those two sold. What's not happening is somebody didn't wake up this morning and say Apple, Amazon (AMZN), and Microsoft (MSFT) are worth 5% less than they were on Friday. That's not happening," Luria explains. He says that fundamental-based investors haven't changed their minds since Friday, and the prospects for large cap tech companies will continue to do well. He adds that there are companies out there that will benefit from AI over the next few years, and that value is not yet reflected in the stock price. He points to Apple as one of those companies as a buying opportunity, explaining its AI integration will drive an iPhone upgrade cycle. He also points to Amazon as another opportunity, noting that its AWS (Amazon Web Services) segment has more room to grow as it strengthens its AI capabilities. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Melanie Riehl Crypto market, stocks plunge on broadening sell-off As stock market indexes tumble on Monday (^DJI, ^IXIC, ^GSPC), the cryptocurrency market is sinking in response. Bitcoin (BTC-USD) prices have plummeted over 10%, with crypto-related stocks MicroStrategy (MSTR), Robinhood (HOOD), and Coinbase (COIN) also suffering significant losses. Yahoo Finance reporter Josh Schafer analyzes the sell-off within the crypto space. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith Buy long-term growth plays amid sell-off: Technical analyst Equity markets (^DJI, ^IXIC, ^GSPC) are experiencing a sharp decline on Monday as investors' recession fears intensify. The CBOE volatility index (^VIX) has surged to a 4-year high. Oppenheimer & Co. Inc. managing director and head of technical analysis Ari Wald joins Catalysts to discuss market outlooks on this broadening market sell-off. Wald characterizes the current market sell-off as "a pullback in an uptrend." He notes that the VIX's current level of 65 was "only exceeded during the depths of the Great Financial Crisis and the COVID lows," suggesting a market low could be on the horizon. For this downturn, Wald recommends plays with "long-term relative strength," favoring the Nasdaq 100 (^NDX) for long-term investors. He advises against small-cap stocks (^RUT): "As we think about the possibility of market breadth, small caps are likely going to be the first to peak." Regarding a potential Federal Reserve interest rate cut, Wald believes it will likely be a "reactionary cut" at this point, though he anticipates positive market momentum following such a move. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Angel Smith Wall Street raises pressure on Fed to take more aggressive rate action The pressure on the Federal Reserve to cut rates is rising in the wake of heavy selling on Wall Street and a disappointing jobs report that stoked recession fears. Warren Buffett's Berkshire Hathaway slashes Apple stake Berkshire Hathaway (BRK-B, BRK-A) cut its holdings of Apple (AAPL) shares by nearly 50% in the second quarter. The Warren Buffett-led company has been trimming its stake in the tech giant for the past several quarters. Morning Brief anchors Brad Smith and Seana Smith discuss the move in the video above. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Stephanie Mikulich. Stocks sell off around the world It's not just the US that is seeing a huge sell-off. Japan's Nikkei (^N225) saw its worst day since 1987 while European markets are trading sharply lower as well (^FTSE, ^FCHI, ^GDAXI). Yahoo Finance markets reporter Jared Blikre takes a closer look at the global market action. For more insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Stephanie Mikulich. Market sell-off, tech takes hit, bitcoin falls: 3 Things US stock futures (^DJI, ^IXIC, ^GSPC) are plummeting in Monday's pre-market trading, extending the tech-centric sell-off following last week's disappointing jobs data. As volatility (^VIX) soars in American markets, Japan's Nikkei 225 (^N225) has fallen by over 12%. Shares of tech giants Nvidia (NVDA) and Apple (AAPL) are getting especially pummeled. Could now be the time to start buying the dip on Nvidia? Lastly, bitcoin (BTC-USD) is dropping by as much as $11,000, hitting a six-month low. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan. Dow Jones Futures Bounce: 'Fear Index' Soars As Apple, Nvidia, Tesla Dive; AI Stock Palantir Surges On Earnings Dow Jones Futures Rebound: The VIX, also known as the fear index, soared as Apple, Nvidia and Tesla plunged. Palantir surged on earnings late. Google Monopolized Search Through Illegal Deals, Judge Rules (Bloomberg) -- Google illegally monopolized the search market through exclusive deals, a judge ruled Monday, handing the government a win in its first major antitrust case against a tech giant in more than two decades. Most Read from BloombergSinger Akon’s Multibillion-Dollar Futuristic City in Africa Gets Final NoticeNew York City’s Outdoor Dining Sheds Will Start DisappearingThe 5 Coastal States That Face the Most Devastating Flood RiskParis Spent €1.4 Billion to Clean Up the Seine. Has It Wor Why Crypto Mining Stocks Tumbled Today A major development across the Pacific sparked a sell-off in coins, tokens, and associated stocks.