Put hunters pull the trigger again! BCA Research's chief strategist predicts that the S&P 500 will drop to 4450 points.
Peter Berezin, the Global Chief Strategist at BCA Research, stated that he is willing to double down on betting against the decline of the US stock market, as there is still downward potential for both the stock market and the economy.
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Express News | In Overnight Trading, Tech Giants Extend Losses; Nvidia and Meta Drop Over 3%, Palantir Slumps 4%
Apple's stock price has fallen for four consecutive days, while Microsoft has reclaimed the top position in Market Cap.
Due to the impact of the tariff plan from USA President Trump on the stock price of this iPhone manufacturer, Microsoft's Market Cap has surpassed Apple's once again. In the past four Trading days, Apple's stock price has dropped by 23%. Microsoft's CEO Satya Nadella noted that Apple's stock price has plummeted 23% in the last four Trading days, allowing Microsoft to regain its position as the Global company with the highest Market Cap. As of Tuesday's close, Microsoft's Market Cap was $2.64 trillion, while Apple's Market Cap was $2.59 trillion. Although President Donald Trump's large-scale tariff plan has severely impacted the entire market,
Tariff crushes hopes for a rebound in US stocks, the Dow plunged over 2,000 points during the session, the S&P erased more than 4% of its gains and turned negative, and Apple fell 11% from its daily high at one point.
NVIDIA, which rose over 8% in the early session, closed down more than 1%. Tesla, which rose over 7% in the early session, closed down nearly 5%. The China concept Index has closed down more than 5% for two consecutive days. The yield on the two-year U.S. Treasury bond dropped nearly 20 basis points during the session. The Swiss franc surged nearly 2% in the session. Bitcoin dropped over $5,000, falling below the 0.078 million mark during the session. Crude Oil Product once fell more than 4%. Copper rose over 4% during the session but later fell more than 2%.
