Market close recap

Europe closed lower ▼ (Down)

• 🇩🇪

  DAX

  ^GDAXI

  26,325

  ▼ 0.43%

  Down
• 🇫🇷

  CAC 40

  ^FCHI

  8,205

  ▲ 0.34%

  Up
• 🇪🇺

  Euro Stoxx 50

  ^STOXX50E

  6,232

  ▼ 0.55%

  Down

Wall Street closed lower ▼ (Down)

• 🇺🇸

  Nasdaq 100

  ^NDX

  26,630

  ▼ 6.36%

  Down
• 🇺🇸

  S&P 500

  ^GSPC

  7,354

  ▼ 4.36%

  Down
• 🇺🇸

  Dow Jones

  ^DJI

  51,523

  ▼ 3.44%

  Down

1. 1.

   Tech led a heavy US sell-off. The Nasdaq 100 fell 6.36% and the S&P 500 lost 4.36%, with the Nasdaq sliding into correction territory. Reports called it the worst day for tech stocks since 2020, as the AI trade unwound.

   Source: cnbc.com

2. 2.

   Musk-linked shares were hit hard. Reports say Tesla and SpaceX together lost about $450 billion in value over two days, deepening what traders are calling the 'Musk selloff'.

   • $TSLA

   Source: marketwatch.com

3. 3.

   Retail investors sold stocks on a scale not seen since the Covid crash, according to reports. Money moved into Treasuries for safety, and the US 10-year yield fell 1.16% to 4.84%.

   Source: cnbc.com

4. 4.

   Oil rose sharply: Brent crude gained 4.89% to 99.25. A senior Iranian official told Reuters Iran had sent a nuclear proposal to the US via Qatar, a development markets are watching closely.

   Source: news.google.com

5. 5.

   Asia split while Europe slipped. Hong Kong's Hang Seng jumped 5.40%, but Japan's Nikkei 225 fell 1.79%. In Europe the DAX eased 0.43% and the Euro Stoxx 50 lost 0.55%, while the CAC 40 gained 0.34%. Airbnb beat earnings and its shares rose, while Affirm beat but fell on weaker consumer credit.

   • $ABNB
   • $AFRM