Global Markets Mixed Amid Tech Sell-Off, Fed Uncertainty

The article discusses the second day of a tech stock sell-off in the US, with the Nasdaq Composite falling 0.67%. Major tech companies like Apple, Amazon, and Alphabet saw their stock prices drop by more than 1%. The sell-off is attributed to various factors, including profit-taking by investors and concerns about an AI bubble. Meanwhile, Fed officials are divided over inflation and employment worries, and Trump is likely to pick Kevin Hassett as the next Fed Chair. The S&P 500 has seen four consecutive days of losses, while the UK's FTSE 100 reached another high despite higher-than-expected inflation in July.

The article discusses the recent decline in tech stocks, with the Nasdaq Composite slipping 0.67% and major companies like Apple, Amazon, and Alphabet falling more than 1%. Palantir had its sixth consecutive day of losses. The decline may be due to investors locking in profits or concerns about an AI bubble. Fed officials are divided over inflation and employment worries. Other news includes Meta Platforms freezing hiring for artificial intelligence talent and Trump's statement that there will be no new approvals for solar or wind power projects.

European stocks were mixed on Thursday as traders awaited economic data from the region, including flash euro zone and U.K. purchasing managers' index data. The market sentiment was influenced by the minutes from the Federal Reserve's July meeting, which showed policymakers' concerns about the labor market and inflation. Traders are also focusing on key speeches from Fed officials at the Jackson Hole economic symposium, particularly Fed Chair Jerome Powell's speech on Friday. Fed funds futures indicate an 82% likelihood of the central bank cutting interest rates in September.

The stock market experienced a four-day losing streak, with tech names and chipmakers leading the losses. Investors are waiting for Federal Reserve Chair Jerome Powell's speech at the Jackson Hole symposium for insights into interest rates. The market is pricing in an 80% likelihood of a rate cut in September. Various company earnings reports are due, including Walmart and Workday. Coty's weak forecast led to a 15% plunge in its shares. Fed Governor Lisa Cook responded to allegations of 'mortgage fraud' by stating she won't be 'bullied' into resigning.