The rebound on Friday was headlined by the Dow crossing the 50,000 mark but tech also managed to bounce back a little at the end of last week. But today, the jitters are creeping back in as we see Nasdaq futures lead the declines now in a notable drop in the past hour. S&P 500 futures are down 0.4% while Nasdaq futures are down by 0.7%, but Dow futures are only lower by 0.1% for the time being.
It’s a big week in terms of US economic data releases and that will just fuel the volatility in the days ahead. But for now, it is clear that there are still some nerves up in the air.
Anthropic making waves and continued concerns surrounding AI valuations were key factors dragging down the mood last week. So, expect the spotlight to stay on that again this week. That alongside the major data points from the US as mentioned.
The drop in equities is also coinciding with a broader risk retreat in markets. Gold is back down just under $5,000 with silver falling back below the $80 level. Elsewhere, Bitcoin is also falling to the lows for the day now with the cryptocurrency lower by 3% to $68,500 levels. That after having dipped below $70,000 earlier in the day here.
This article was written by Justin Low at investinglive.com.