TheDrop Market Analysis, 8/28/24

Due to one reason, today's markets plunged beyond expectations.

The markets have moved as a result from expectations of an earnings report for one company: Nvidia. Perceived to being the largest company leading the AI Revolution, its earnings report would be extremely consequential for the future of the tech industry.

To keep today's analysis short, almost no company saw increases in share prices, in fact quite the opposite, stocks plunged beneath the resistance level.

While all index funds, especially the Nasdaq, fell considerably, investors feared for the upcoming Nvidia report. False or misleading reports hinting at the earnings report circulated rapidly across the market, stating how Nvidia will perform well under expectations, causing a huge wave of fear to circulate.

Fortunately, the earnings report once again showed promising results for the company, however during afterhours. We should get a better glimpse as to the state of the market tomorrow when investors can trade with market orders to express their opinions.