Tech and Crypto Markets Take a Tumble: What's Going On?

Markets took a hit on Thursday, with tech and crypto leading the way down. Investors got nervous after some big companies reported earnings that weren't as exciting as hoped. Plus, news about job cuts made people worry about the economy. Tech stocks, especially those linked to AI, saw big drops. Robinhood fell nearly 10%, even though it did better than expected last quarter. Palantir and AMD also took a hit, showing that even good news isn't always enough to keep stocks up. Over in crypto, Bitcoin dipped below $101, 000, and Ethereum dropped 4%. It seems like the short break in the downward trend is over. The big U. S. stock indexes all fell, with the S&P 500 down 1%, the Nasdaq 100 down 1. 8%, and the Dow Jones down 0. 9%. Energy was the only sector that didn't lose ground. Federal Reserve officials also poured cold water on hopes for interest rate cuts, saying they're not in a hurry to make changes. This made investors even more cautious.