North News
Chandigarh, September 4
Wall Street had a rough start to September, with the Dow Jones dropping over 600 points and the S&P 500 falling more than 2%, marking its worst start to the month since 2015. The Nasdaq Composite also took a significant hit, ending 3.3% lower as chip stocks, including Nvidia and AMD, saw substantial declines. The sell-off was driven by weak economic data, particularly in manufacturing, which sparked concerns about the health of the economy.
Chip stocks were particularly hard hit, with Nvidia’s shares dropping over 9% and the VanEck Semiconductor ETF plunging by more than 7%. The S&P 500’s IT sector experienced its worst single-day drop since September 2022. Analysts attribute the market’s volatility to heightened sensitivity to economic data, reflecting growing investor concerns about the economy’s stability.
