U.S. Market Slumps Amidst Tech Stock Decline

Tech stocks have experienced a significant downturn, impacting both the U.S. stock market and global markets. This decline was evident in major indices like the S&P 500, which saw a substantial drop of 20% from its recent high. The Nasdaq and Russell 2000 also entered bear markets during this period. Apple, Tesla, and other prominent tech companies suffered significant losses, fueling the broader market turbulence. This downward trend was driven by concerns about rising inflation and economic slowdown stemming from new U.S. tariffs. 7.62% dip in Bitcoin’s price to a record low since November 2024 underscores the impact of these global economic anxieties.