Wall Street indices failed to maintain rebound after ISM data 📉US30 loses 0.8%
- Wall Street indices failed to rebound after only slightly stronger than expected ISM Services data
- US30 loses 0.8%, weakening the most among major US indices
- Pharmaceutical sector loses; Novo Nordisk and Eli Lilly drop 2.7% and 3.8% respectively
- Nvidia erases early gains; dropping from $110 to $106 per shareÂ
US stock market sentiment is weakening, dragged by weaker than expected labor market data. Also, ISM Services Employment reading came in weaker, signalling further softening. Investors are afraid of stagflation and recession scenario; analyzing still high premium across the US equities valuations.
Source: xStation5
Source: xStation5