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U.S. tech stocks decline drag down the Nasdaq, Google drops over 6%, Amazon falls over 4.5%

MarsBitNews
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Mars Finance News, June 22—According to market data, the U.S. Nasdaq index opened higher and then reversed lower, with the decline widening to 1.09%. The main drag was a broad pullback among technology giants: Alphabet (Google) fell more than 6%, Amazon dropped more than 4.5%, and Meta fell to nearly 3%. After an early surge in AI-related themes, the market may see profit-taking. Earlier, strong U.S. non-farm employment data boosted expectations that the Federal Reserve would keep interest rates high or raise them further. Later this week on Thursday, the PCE inflation data is set to be released, and investors are watching cautiously. The U.S. dollar exchange rate continues to rise, weighing on high-valued growth stocks, especially in the technology sector. The Dow Jones Industrial Average is relatively resilient, and the overall market remains in high-level, range-bound volatility. Meanwhile, U.S. space-related stocks fell sharply: Planet Labs dropped more than 4%, Satellogic fell 6.22%, Redwire fell 8.24%, SpaceX fell 8.92%, Rocket Lab fell 7.10%, and the share price of Intuitive Machines fell 5.82%.
NAS100-0.81%
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