21.08.202513:32:23UTC+00US Stocks Extend Pullback

On Thursday, U.S. stocks saw a decline, continuing the negative trend observed throughout the week as investors evaluated interest rate prospects and retail earnings to gauge consumer resilience. All three major equity indices dipped approximately 0.4%. Notably, the Nasdaq 100 faced a sharp weekly decline amid a tech sector sell-off. The FOMC minutes revealed that a majority of members considered inflation risks to outweigh those related to the labor market, expressing some concern that inflation expectations might become destabilized. Major tech companies remained largely under pressure due to market doubts about the anticipated returns from AI services following this year's rally, resulting in significant losses for companies like Nvidia, Palantir, and Meta since last Friday. Meanwhile, Walmart's shares dropped 3% after the company announced a rare profit shortfall for the second quarter, despite upgrading its guidance. Tomorrow, Federal Reserve Chairman Powell is scheduled to speak, potentially offering insights into how the Fed views evolving labor market risks.