On Thursday, stocks dropped as investors kept selling technology-related stocks.
The heavily tech-heavy Nasdaq Composite had a 0.5% decline. The S&P 500 experienced a 0.5% decline. A 0.6% decrease, or 260 points, was seen in the Dow Jones Industrial Average.
The decline on the Nasdaq is indicative of a larger trend away from technology that has been evident recently.
A increasing chance of a Federal Reserve interest rate decrease in September has led Wall Street to sell shares of artificial intelligence stocks, boosting market optimism.
Conversely, small-cap and more cyclical stocks have benefited greatly from this, as they are thought to be the main beneficiaries of decreased borrowing costs.
Source (CNBC)
