Stock market sell-off as S&P 500 drops 1.6%; Goldman Sachs advises long positions in U.S. stocks; Visa hits record high amid earnings reports
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- Stock market sell-off amid tech concerns: On Thursday, the S&P 500 fell over 1.6% and the Nasdaq Composite dropped 2.8% following Nvidia's 8% decline after its earnings report. Investors are also reacting to President Trump's tariff plans and signs of a sluggish US economy, with GDP growth at 2.3% and initial jobless claims rising to 242,000, leading to uncertainty about future interest rate cuts as they await key inflation data from the PCE index.
- Investors advised to be long on U.S. stocks: Sara Naison-Tarajano from Goldman Sachs suggests that investors should maintain a long position in the U.S. stock market due to ongoing inflation fears, indicating a positive growth outlook despite current market volatility.
- Market movements and earnings reports: The Nasdaq has seen significant movements, particularly in AI stocks, while Visa reached a record high. Other companies like Duolingo and SoundHound reported strong earnings, suggesting potential investment opportunities amidst the market's damaging losses.
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