Friends, subscribers, fellow patriots of the free market… buckle up. We just witnessed a bloodbath on Wall Street, and I’m not talking about some minor dip you can ride out with a stiff drink. Tech stocks, the supposed backbone of this market, got absolutely demolished today, dragging the major indexes down with them and leaving investors with more questions than answers.
Let’s cut through the noise. The Dow Jones Industrial Average shed another 1%, bringing its weekly loss to levels not seen since March. The S&P 500? Forget about it – down nearly 2% on the day, on pace for its worst week since the spring. But the real story is the Nasdaq. The tech-heavy index plummeted 2.6%, capping off its most brutal week since January of 2022.
This is why I’ve been warning you about the Fed’s reckless money printing for years. We’re living through the consequences, and I hate to say this, folks, but it’s only just the beginning. The piper needs to be paid, and right now, it’s tech footing the bill.
Today’s Slaughterhouse: Where Even Titans Bleed
We’re not talking about penny stocks going bust here. These are the titans of industry, the Apples and Amazons of the world, and they’re getting hammered. The August jobs report? Weaker than expected. The Fed’s dance of maybe-cutting-rates-but-maybe-not? Terrifying.
Broadcom (AVGO), a bellwether for the entire semiconductor sector, plunged more than 10% after their revenue outlook left investors running for the exits. Remember what happened back in 2000 when the dot-com bubble burst? I’m seeing echoes of that right now, and that’s a very dangerous road we’re heading down.
And then there’s Nvidia (NVDA), the darling of the artificial intelligence boom. Just a week ago, everyone and their brother thought this stock could only go up. Today? Down nearly 5%. It’s a stark reminder that hype cycles can turn on a dime, especially when the broader market is teetering on a knife’s edge.
On the flip side, a few brave souls sought refuge in the perceived safety of healthcare. Argan (AGX), a construction firm specializing in – get this – healthcare facilities, saw its stock climb over 2% today. Now, I’m not saying ditch your tech holdings and go all-in on hospitals, but it does tell you something about investor sentiment right now. When in doubt, they’re looking for stability, for companies with a clear path to profitability even if the world goes haywire.
Here’s a look at today’s top movers, for better or worse:
| Ticker | Close | % Change |
|---|---|---|
| AGX | $92.05 | 2.31% |
| NX | $30.5 | 0.69% |
| IOT | $43.94 | -0.18% |
| PACB | $1.58 | -0.03% |
| YEXT | $6.17 | -0.80% |
| Ticker | Close | % Change |
|---|---|---|
| WULF | $3.725 | -11.52% |
| LVWR | $5.47 | -11.06% |
| AGL | $3.61 | -11.52% |
| PCT | $4.8 | -11.28% |
| SKIN | $4.55 | -15.27% |
The Storm Isn’t Over Yet: What To Watch Now
Here’s the thing, friends: This game is rigged against us. They want you to panic. They want you to sell low and buy high, lining the pockets of Wall Street fat cats while Main Street gets crushed. But I’m not about to let them win. Here’s what I’m keeping my eye on:
- Apple (AAPL) is set to announce its new iPhone tomorrow. Will it be enough to save tech? Unlikely. But it’ll give us a read on consumer sentiment. If Apple stumbles, we all stumble.
- That DOJ investigation into Nvidia? The plot thickens. Antitrust lawsuits are a long game, but if the Feds smell blood in the water, they might just go for the kill.
- And keep a close eye on the bond market. When the 10-year Treasury yield starts acting up, it’s a sign that bigger forces are at play.
We’re in for a bumpy ride. Stay vigilant, my friends.
Mr. Monitor
Editor-in-Chief
Market Monitors
