Finance

Tech Stocks Drop in Risk-Off Trade Ahead of PCE: Markets Wra

SummaryAhead of today’s key U.S. economic release—July’s Personal Consumption Expenditures (PCE) price index—global markets entered cautious territory. Tec

fatimagul 3 min read · 11 months ago

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Summary

Ahead of today’s key U.S. economic release—July’s Personal Consumption Expenditures (PCE) price index—global markets entered cautious territory. Tech stocks, especially major AI-related names, led the slide as investors reduced risk exposure.

Market Performance

U.S.As traders prepared for the PCE report, futures fell: Nasdaq 100 futures fell 0.5%, S&P 500 futures fell 0.3, and Dow Jones futures fell 0.3. ([Investors][1], [Investing.com][2])

Tech Sector Weakness: Nvidia futures fell less than 1.2%, and Dell Technologies fell more than 6% after sales of AI servers fell short of expectations. ([Bloomberg.com][3], [Investors][1])