Tech giants like Microsoft and Apple are losing in the Dow Jones - Meta and Nvidia weak in the Nasdaq 100

Tech giants like Microsoft and Apple are losing in the Dow Jones - Meta and Nvidia weak in the Nasdaq 100

Big Tech stocks like Microsoft, Apple and Cisco Systems are among the biggest losers in the Dow Jones, while Meta and Nvidia are among the weakest stocks in the Nasdaq 100. The focus is also on further quarterly reports from large US corporations. The Dow Jones rose slightly, but fell by 0.7 percent and stands at 32,825 points. The market-wide S&P 500 lost 1.2 percent to 4,138 points. The Nasdaq 100 in particular, which consists mainly of technology stocks, has temporarily fallen by over two percent to below 14,100 points. This brings it closer to its 200-day line at 13,914 points. Nevertheless, the losses were somewhat limited by positive economic data. US gross domestic product rose 4.9 percent in the third quarter, the largest rate of increase in almost two years.

According to a report by The Shareholder, the large Big Tech companies such as Microsoft, Apple and Nvidia are the above-average losers on Wall Street, with share price declines of 2.7 to over four percent. Meta (formerly known as Facebook) reports negative impact on its online advertising business due to the Gaza conflict. The company temporarily recorded a share price decline of 5.5 percent and reached its lowest level since the end of August. Some quarterly figures also influenced the shares. The shares of Align Technology, a manufacturer of transparent dental aligners, suffered a price drop of 25 percent due to disappointment with the figures and a lowered annual target for net sales. Mattel has seen its share price fall 8.5 percent due to cautious forecasts for the holiday season, while UPS has further adjusted its annual targets, resulting in a share price fall of 5.2 percent.

However, there are also winners on the stock market. IBM shares rose by over four percent due to positive quarterly figures, especially in the software business. The pharmaceutical company Merck & Co is raising its sales forecast for the current year, resulting in a share price increase of 2.8 percent. Verizon and Boeing are also seeing positive share price developments.

Overall, Wall Street is taking a hit, largely due to weak performance from Big Tech companies and some disappointing quarterly reports. The impact can be seen in falling stock prices and can potentially lead to a shift in market and consumer behavior.

Source: According to a report by The Shareholder