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Apple downgrade signals broader tech problem

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2 years ago

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Apple’s downgrade by Bank of America sparked a selloff in tech stocks, sending shares of Alphabet and Microsoft to one-year lows.

The move came as investors rotated out of growth stocks and into more defensive assets to deal with higher interest rates and get ahead of a possible recession.

Apple’s stock fell sharply after the downgrade, while shares of other major tech companies also tumbled.

The selloff in tech stocks weighed on the broader market, with the Dow Jones Industrial Average and the S&P 500 both falling sharply.

The market’s declines were broad-based, but the tech sector was hit particularly hard.

The Nasdaq Composite Index fell more than 3%, while the Dow Jones Industrial Average and the S&P 500 both declined more than 2%.

The market’s sell-off was sparked by a downgrade of Apple’s stock by analysts at Bank of America.

The downgrade came as investors are increasingly worried about the outlook for the tech sector.

Shares of Apple have fallen sharply this year, and the stock is now down more than 30% from its highs.

Other major tech stocks have also been under pressure, with shares of Alphabet, Facebook, and Amazon all down significantly from their highs.

The market’s sell-off on Thursday was a continuation of the recent trend of investors rotating out of growth stocks and into more defensive assets.

The rotation out of growth stocks has been driven by concerns about higher interest rates and a possible recession.

Investors have been flocking to safe-haven assets such as gold and government bonds.

The market’s sell-off on Thursday also came as oil prices fell sharply, with West Texas

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Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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What to expect for IPO markets

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2 days ago

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September 13, 2024

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With high interest rates and geopolitical uncertainty–what’s in store for IPO markets?

As the second half of 2024 begins, the IPO market is poised for a potential rebound after a sluggish start to the year.

With improving economic conditions and renewed investor confidence, more companies seem to be considering going public, creating market optimism.

However, challenges such as inflation and geopolitical uncertainties remain key factors to watch.

Dean Quiambao, a partner at Armanino joins Veronica Dudo to discuss what experts are predicting for the IPO landscape in the coming months and how businesses are positioning themselves for success.

#IN AMERICA TODAY #trending #IPO #IPOmarkets #ratecuts

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ASX positioned for strong start after positive stock rebound

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4 days ago

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September 10, 2024

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The ASX is set for a solid opening today, bolstered by overnight gains in the banking, commodities, and energy sectors.

Despite these positive movements, analysts are suggesting that the stock rebound and bond decline appear to be technically driven, noting that it may not mark the beginning of a longer-term trend.

Market analyst David Scutt from StoneX joins to discuss the latest market movements. #featured #trending

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Elon Musk is projected to become the world’s first trillionaire

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5 days ago

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September 9, 2024

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Elon Musk, the visionary entrepreneur behind Tesla and SpaceX, is projected to achieve an unprecedented financial milestone by becoming the world’s first trillionaire by 2027.

Currently the richest person alive, Musk holds a staggering net worth of $251 billion, with Tesla playing a major role in his fortune.

At this rate, experts predict his wealth could skyrocket, reaching the trillion-dollar milestone in just three years.

Tesla itself is growing at a remarkable pace, with a market value nearing $670 billion. #featured #trending

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