Columbus, OH

ABC News

The S&P 500 has climbed nearly 15% this year.

Where is the stock market headed in the 2nd half of 2024?

The recent downturn in tech stocks has sent shockwaves through the market. On a single day, tech stocks plummeted by 2.5%, a significant drop that has left many investors scrambling to understand the reasons behind this sudden shift. This article aims to provide an in-depth analysis of the factors that led to this decline and the subsequent rotation of investments from tech stocks and the S&P 500 into small and mid-cap stocks.

Understanding the recent tech stocks downturn

Tech and AI stocks declined on Wednesday, causing the Nasdaq and S&P 500 to drop sharply as investors reacted to potential new export controls under the Biden administration and comments on Taiwan by former President Donald Trump. The Dow Jones Industrial Average, which closed almost 750 points higher the day before, was flat on Wednesday.

The S&P 500 and Nasdaq tank as investors dump AI and tech stocks

Markets Insider

Investors betting on a second Trump presidency expect an easier regulatory environment and more corporate M&A activity.

Stock market today: Dow closes at a record as market bets on Trump after assassination attempt

Reuters

NEW YORK (Reuters) - Global hedge funds have been reducing their exposure to U.S. stocks for five days in a row amid a market-wide pullback in megacap tech-related stocks, Goldman Sachs said in a note on Wednesday.

Hedge funds shed risk in tech megacap sell-off, Goldman says

Lancaster County, PA

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NewsByJoshua

Fans of Frisco's Chicken were left reeling as the beloved Peruvian-style eatery announced the closure of all its locations in Lancaster County, Pennsylvania. The chain, known for its delicious food and strong community values, posted a heartfelt note on its doors, informing customers of the devastating news.

Favorite Chicken Chain Suddenly Closes All Stores, Heartfelt Message Found on Doors

New York City, NY

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Cheryl E Preston

Yesterday was the third time this year that an ad stating Chelsea Clinton lives in a beautiful Virginia home popped up on my laptop. My computer did not warn me this was a dangerous site, so this time, I clicked on the link.

Chelsea Clinton is rumored to be living in Virginia but probably still in NYC

Chicago, IL

Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

The assassination attempt on former President Donald Trump, who is running for reelection, is fueling a range of false claims and conspiracy theories as authorities seek information about the 20-year-old shooter's background and motive, how he obtained the AR-style rifle he fired at Trump and security at the venue that failed to stop the shooting.

FACT FOCUS: A Look at False Claims Around the Assassination Attempt on Former President Trump

Nvidia has been a huge AI winner, but with AI in its early innings, it still has a long runway of growth. Microsoft continues to lead the way in AI for cloud computing and software. DocuSign could be a big AI beneficiary with its new Intelligent Agreement Management platform. Artificial...

3 Leading Tech Stocks to Buy in 2024 and Beyond

Redbox, the iconic movie rental company with over 34,000 locations nationwide, has announced the closure of its operations following its parent company's filing for Chapter 11 bankruptcy. This decision has left many of its loyal users saddened, marking the end of an era for physical media enthusiasts.

A rental company with 34,000 locations has closed its doors

California State

In a concerning trend for California, numerous large companies are gearing up for significant layoffs, affecting thousands of workers across various industries. According to the WARN Tracker, California has seen a staggering 37,086 WARN layoffs this year alone, impacting 713 businesses statewide.

Concerns Rise as Massive Layoffs Hit California

Indiana State

Franklin, IN

A wave of closures is hitting Pizza Hut, a pizza chain known for its iconic slanted-roof buildings, with 6,775 locations feeling the pinch in the tough restaurant industry landscape.

A well-known pizza chain with over 6K locations has begun closing some of its stores

Pennsylvania State

BUTLER, Pa. (AP) — Signs of trouble were evident in the minutes before shots rang out at Donald Trump’s rally in Pennsylvania: Police had a report of a suspicious man pacing near the magnetometers and were apparently exchanging photos of the suspect. Witnesses pointed and shouted at an armed man on a nearby roof.

Signs of Trouble at Trump Rally Were Evident in Minutes Before Gunman Opened Fire

Business Times

Geopolitical tensions took center stage on Wall Street Wednesday after U.S. presidential candidate Donald Trump expressed reservations about defending Taiwan, sending ripples through the financial markets. The chipmaking sector bore the brunt of the fallout, with shares of major players tumbling and investors seeking refuge in safer assets like gold.

Trump's Taiwan Remarks Shake Wall Street; Chip Stocks Plunge Amid Geopolitical Concerns

MANILA (Reuters) - Philippine President Ferdinand Marcos Jr's approval and trust ratings slightly dropped as he entered his third year in office, according to independent opinion pollster Pulse Asia. His approval and trust ratings in the survey conducted from June 17 to 24 were two points lower at 53% and...

Philippine Marcos' Approval, Trust Ratings Dip - Poll

Virginia State

Margaret Minnicks

According to WRIC 8 News, a new speed limit will become effective on July 1, 2024 in Virginia. Speed limits in a business or residential district will be aslow as 15 miles per hour on Virginia highways.

A new speed limit law on highways becomes effective in Virginia on July 1, 2024

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Alameda Post

California regulators just stopped AT&T from pulling the plug. California’s Public Utilities Commission on June 20 rejected AT&T’s application to stop providing landlines and other services in areas where there is no other option.

Still Need Your Landline?

BANGKOK (Reuters) -Cyanide poisoning caused the deaths of six foreigners whose bodies were found in a room in a plush Bangkok hotel, Thai authorities said on Wednesday, with the suspected killer among the dead. Traces of the rapid-acting, deadly chemical were found during autopsies of the bodies and on drinking...

Thailand Says Cyanide Killed 6 Foreigners in Hotel, Including Perpetrator

Benzinga

The Dow Jones Industrial Average Index reached a new record high of 41,198 points Wednesday, closing 0.6% higher and extending its winning streak to six consecutive sessions in the green.
Blue-chip stocks, tracked by the SPDR Dow Jones Industrial Average ETF (NYSE:DIA), found a strong ally in July’s seasonality. Just a year ago, the Dow Jones began a remarkable bull run of 13 consecutive sessions starting on July 10.
This year’s Dow rally is distinguished not only by new record highs but by its outperformance relative to the tech sector.
Over the last six sessions, the Dow Jones has risen by 5%, while...

Dow Jones Extends All-Time Highs: Blue Chips Post Strongest 6-Day Gain Versus Tech Stocks In 22 Years

NewsBreak

Stock Market Today: Wall Street Holds Firmer Following Wednesday's Rout for Tech Stocks

NEW YORK (AP) — Wall Street is holding steadier Thursday following the worst day for big technology stocks since 2022. The S&P 500 climbed 0.4%, and...

Stock Market Today: Wall Street Holds Firmer Following Wednesday's Rout for Tech Stocks

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