Tech Stocks Take a Dip: What's Shaking Up the Market?

Tech stocks are having a rough time lately. Big names like Tesla, Palantir, and Nvidia are seeing their stock prices drop. This isn't just a small dip—it's a noticeable decline. Tesla's shares fell by 6. 64% on Thursday. And it didn't stop there. The drop continued into Friday's after-hours and premarket trading, with an additional 4. 78% decrease. Palantir, a company often criticized for being overvalued, saw its shares fall by 6. 53% on Thursday. The decline continued into Friday, with a further 4. 30% drop. Despite this, Palantir's stock is still up by 127. 61% for the year. Nvidia, which recently hit a $5 trillion valuation, also felt the heat. Its shares closed down by 3. 58% on Thursday. The decline continued into Friday, with a further 3. 33% drop. Nvidia's stock had already taken a hit earlier in the week when it was revealed that Softbank sold its 32 million shares worth $5. 8 billion in October. These drops come at a time when the Federal Reserve is less likely to cut interest rates. Just a month ago, the likelihood of a rate cut was over 98%. But by Wednesday, it had dropped to 62. 9%, and by Thursday, it was down to 50. 1%. The overall market is also feeling the pressure. The S&P 500 and the Dow Jones Industrial Average both hit their lowest points in over a month. The Nasdaq composite also took a hit, dropping by 2. 29% to its lowest point in a month. It's a tough time for tech stocks, and it's not clear when things will turn around. Investors are watching closely to see what happens next.