Technology stocks on the Nasdaq 100 were poised for a third consecutive day of losses Thursday, as investors continued to adopt a risk-off stance ahead of Federal Reserve Chair Jerome Powell's speech at the central bank's annual Jackson Hole Symposium on Friday.
A second day of selling pressure hit technology stocks tied to the AI theme on Wednesday, as sentiment cooled after an MIT report questioned the broad profitability of the new technology.
The U.S. President warned that progress would depend on concessions from both sides, stating that Ukrainian President Volodymyr Zelenskyy would need to show some ‘flexibility.’
Investor risk sentiment paused at the start of the week, as markets awaited details expected to emerge later when President Donald Trump meets with Ukrainian President Volodymyr Zelenskyy and European leaders.
The Alaska Summit between U.S. President Donald Trump and Russian President Vladimir Putin comes as Ukrainian President Volodymyr Zelenskyy alleges recent Russian advances are aimed at strengthening Moscow’s bargaining position.
Major tech-heavy indices edged lower from record highs by midday Friday in New York, as investors adopted a cautious stance ahead of the Trump-Putin meeting and after data showed a dip in consumer confidence alongside mounting inflation concerns.
