European and Asian equity benchmarks headed for their steepest two-day decline since April.
All eyes had been on chip giant Nvidia, which reported Wednesday night that quarterly profits more than doubled to $43 billion as it projected more strong growth for the coming period.
Investors also await Friday’s US monthly jobs report for cues on labour market conditions and the future course of Federal Reserve policy.
Fed frontrunner Kevin Warsh is viewed as one of the more hawkish candidates, raising concerns that interest rates could remain higher for longer.
Meta Platforms, Microsoft and Tesla are scheduled to report earnings after market close.
Investors are also awaiting a likely US Supreme Court decision on Trump-era tariffs.
The outlook from TSMC lifted shares of U.S. semiconductor equipment makers in premarket trade.
Nasdaq said last year that some 40 members of the S&P 500 have migrated, with 24 of those companies now in the Nasdaq-100 index.
Both funds will follow a passive investment strategy, investing in UCITS-compliant S&P 500 and Nasdaq index funds.
The Nasdaq has fallen 4.3 percent so far this month, compared with a nearly 2 percent drop in the S&P 500, marking its steepest retreat since March.
US Fed reduced interest rates last week, but Chair Jerome Powell signalled that the move could be the last cut for this year.
By following federal capital, the ETF turns a political worldview into an investable thesis.
In Europe, the benchmark STOXX 600 slipped 1.5 percent. France’s CAC 40 fell 1 percent and Germany’s DAX declined 2.1 percent.
Bitcoin slipped 3 percent in global trading as risk appetite waned amid heightened geopolitical and trade concerns.
Futures linked to the Nasdaq 100 gained 1.7 percent, while S&P 500 futures rose 1.2 percent, indicating a rebound from last week’s sharp sell-off.
Samir Arora of Helios Capital recommends Indian investors start with NASDAQ 100 for diversified tech exposure, add cybersecurity for thematic focus, and consider China tech ETFs like KWEB as a value play
Wall street futures pointed to a firm opening on Wall Street as traders assessed the Fed’s projection of additional rate cuts this year.
The annual conference began on Thursday, with traders closely tracking Powell’s remarks for indications of a possible rate cut in September.
South Korea’s Kospi index rose over 1%, led by a gain in Samsung Electronics Co. shares. LG Display Co. climbed in Seoul while Advantest Corp. jumped 4% in Tokyo
The Nasdaq and S&P 500 fell on Tuesday, August 19, as investors turned cautious ahead of Fed Chair Jerome Powell’s speech at the Jackson Hole Symposium. Tech giants like Nvidia, Microsoft, and Meta led the losses after months of gains. With the Federal Reserve's economic outlook and interest rate direction in focus, markets are watching closely. Get the full update here. Hashtags:
Wall Street's main indexes closed on a subdued note on Monday (August 18), after struggling for direction while investors awaited a raft of corporate earnings reports from major retailers for more signs about the state of the economy and the Federal Reserve's annual symposium in Jackson Hole. Walmart, Home Depot and Target, among others, are set to report results this week and are likely to indicate how trade uncertainty and inflation expectations have affected U.S. consumers. Markets also hope that the Fed's Jackson Hole, Wyoming, conference between August 21 and 23, where Fed Chair Jerome Powell is expected to speak, could offer more clarity on the economic outlook and the central bank's policy framework.
Technology stocks led the advance, with the Nasdaq 100 rising 1.07% to 23,263.67. Gains were also seen in transportation stocks, which added 0.5%, while utilities ended the session flat. The broader NYSE index rose 0.31% to 20,521.08, though the Russell 2000, which tracks small-cap stocks, slipped 0.2%.
US futures traded higher as the focus remained on the two-day FOMC meet beginning today, where Fed is widely expected to hold interest rates steady.
Equities have been remarkably resilient over the past two months as the S&P 500 bounced sharply from April lows, putting it 2% away from its record high.
Pump-and-dump schemes exploiting obscure Chinese companies are scamming everyday Americans, while regulators struggle to keep up.