- On August 20, US stocks experienced significant fluctuations, with Moderna plunging over 23 % and Walmart dropping more than 9 %, while the cryptocurrency sector rallied across the board.
- Major tech and Chinese concept stocks showed mixed performances, driven by individual earnings reports and corporate updates.
- Macroeconomic factors such as the Federal Reserve's hawkish 7-month minutes and lower-than-expected initial jobless claims heightened market expectations for interest rate hikes.
- U.S. stocks traded lower on Thursday, with the Dow falling 0.84% and the Nasdaq dropping 0.87% amid mixed economic data and corporate earnings reports.
- Walmart shares tumbled approximately 10% after issuing third-quarter guidance below market estimates despite beating second-quarter earnings expectations.
- Crude oil gained 3% to reach $88.39, while various individual equities experienced significant movements following their latest financial reports and corporate updates.