Bearish Sentiment Ignited | S&P 500 Falls 2.5%, Star Tech Stocks Plummet

We have learned from our financial sources that on Friday, US stock indices opened and closed lower, with the S&P 500 falling by 2.5%. Star tech stocks such as Amazon (AMZN.US), NVIDIA (NVDA.US), Tesla (TSLA.US), Meta (META.US), Google A (GOOGL.US) and Apple (AAPL.US) plummeted, with Amazon falling over 6%, NVIDIA falling over 3%, Tesla and Meta falling over 2%, Google A falling nearly 2% and Apple falling nearly 1%

The market is reacting to the latest employment report released by the US Bureau of Labor Statistics, which shows that the number of nonfarm payroll jobs in July increased by only 73,000, far below the consensus estimate of 110,000. In contrast, the previous two months' growth was unexpectedly revised down by nearly 260,000 - a sudden and drastic shift that has sent shockwaves through Wall Street, sparking a wave of selling sentiment.

Moreover, statistics show that August is typically a challenging month for US stocks, especially for growth stocks. As inflation concerns resurface and hopes for the Federal Reserve's rate cut in September begin to dwindle, market conditions may become even more fragile. Since records began in 1971, the Nasdaq Composite Index has only performed better than December once, with an average monthly gain of just 0.3%.