Midday Movers: Moderna Plunges 23%, Walmart Sinks 9% as Crypto Stocks Surge
Market Pulse·- 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.Nasdaq Down Over 1%; Home Depot Earnings Top Estimates
benzinga_article·- U.S. stocks traded lower on Tuesday, with the Nasdaq Composite falling 1.25% to 26,310.99 and the S&P 500 dropping 0.55% to 7,702.64. - Home Depot Inc reported better-than-expected second-quarter earnings of $4.92 per share and sales of $47.861 billion, surpassing analyst consensus estimates. - Key economic data showed U.S. housing starts fell 12.4% in July to an annualized rate of 1.239 million units, while building permits gained 5% to an annual rate of 1.443 million.