Tech Stocks Take a Dip: What's Shaking Up the Market?

Big names like Tesla, Palantir, and Nvidia see notable drops.

Tesla's Tumble

• Thursday: Shares fell by 6.64%
• Friday: Continued decline with an additional 4.78% drop

Palantir's Plunge

• Thursday: Shares dropped by 6.53%
• Friday: Further decrease of 4.30%
• Year-to-Date: Despite the drop, Palantir's stock is up by 127.61%

Nvidia's Nosedive

• Thursday: Shares closed down by 3.58%
• Friday: Additional drop of 3.33%
• Earlier in the Week: Nvidia took a hit when Softbank sold its 32 million shares worth $5.8 billion in October

Market Context

• Federal Reserve Rate Cuts: Likelihood dropped from over 98% to 50.1%
• Market Indices:
• S&P 500: Hit lowest point in over a month
• Dow Jones Industrial Average: Also at its lowest in over a month
• Nasdaq Composite: Dropped by 2.29% to its lowest point in a month

Outlook

• Investor Sentiment: Uncertainty prevails as tech stocks face significant declines
• Next Steps: Investors are watching closely for any signs of recovery