TheDrop Market Analysis, 10/1/24

Most stocks slid today as tensions rose in the Middle East.

All large index funds are down at an average of around 1%. The Nasdaq was especially hit hard with a decline of 1.5%. It is evident that stocks like Nvidia and Tesla performed very bad today.

In the Middle East, new tensions between Israel, Palestine, and Iran have reached a breaking point. Iran launched a large missile attack on Israel, posing a threat to oil production in the region. Additionally, in the U.S., a massive protest fueled by workers' grievances resulted in huge supply shortages, disrupting the economy.

Meanwhile, major Chinese stocks like JD.com and Huawei skyrocketed as Chinese stimulus comes into effect.