Before the stock market opened, it looked like it was going to be a hot day for TEC shareholders. Red-hot Nvidia shares fell more than three percent on Wednesday and were likely to fall at least as much in pre-trading on Thursday. Stock market returns this year are down about three percent since the beginning.

Pre-trading, Apple shareholders were also likely facing an equally dark day, and that was also the case when trading began. Apple’s price drop is due to the fact that the Chinese authorities will restrict the use of iPhones. With prices falling three percent on Thursday, the company lost $180 billion in market value in two days and was priced on the stock market at just under $2.8 trillion.

In Norwegian krone, Apple shareholders saw NOK 2,000 billion evaporate in two days.

China is ranked by Apple as the largest market for iPhone manufacturers outside the United States, and is also an important country for iPhone production.

Gives red stocks in Nasdaq

The major indices in the US stock market looked like this three hours later on Thursday:

  • The S&P 500 then fell 0.8%.
  • The Dow Jones industrial average fell 0.2 percent.
  • While the main index of the Nasdaq technology stock market fell to 1.3 percent.

Thus, the market continues on the same path it ended on Wednesday.

See also  - Inflation is no longer a major problem in the US - E24

Before the stock market opened, new indicators came in from the US labor market, and they now show high pressures on the economy as they last did in February. This may help reduce optimists’ belief that interest rate increases are over.

The market is not pricing in interest rate increases

In the interest rate market, the fear of rising interest rates has not yet materialized.

Before the stock market opened on Thursday, there was a seven percent chance of a rate hike by the Federal Reserve later in September. These seven percent believe in an increase of 0.25 percentage points. More than 90 percent of investments in the interest rate market are still betting that there will be no change in interest rates at the next meeting of the US central bank.

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