U.S. stocks pullback: Tech giants plunge, but year-to-date 💹 remains strong
The three major U.S. stock indices saw significant pullbacks this week, with banking, tech, and gold sectors all diving ✳️ simultaneously.
Tesla's earnings report fell short of expectations, and Elon Musk's AI "pie in the sky" failed to impress investors; Google's performance was also disappointing. Over the past two weeks, the market cap of the seven tech giants has evaporated $1.7 trillion 💰.
Despite the NASDAQ plunging 3.6✳️✳️% in a single day, it is still up 15.5✳️✳️% year-to-date. Although the S&P 500 fell over 2✳️✳️% this week, it remains up 13.8✳️✳️% year-to-date.
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