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US Stock Market Continues Decline, NASDAQ Falls by 1.00%
Summary: According to Jinshi News, the US stock market continued its decline, with the NASDAQ falling by 1.00%. Joanne Hsu, Director of Consumer Surveys at the University of Michigan, stated that the US Consumer Confidence Index remained unchanged from the preliminary value, decreasing by about 6% from July. While the current index is approximately 11% higher ...
According to Jinshi News, the US stock market continued its decline, with the NASDAQ falling by 1.00%.
Joanne Hsu, Director of Consumer Surveys at the University of Michigan, stated that the US Consumer Confidence Index remained unchanged from the preliminary value, decreasing by about 6% from July. While the current index is approximately 11% higher than in April and May, it is still at least 10% lower than six and twelve months ago. The decline this month is widespread across different age, income, and stock wealth groups, with a decrease in public perceptions of various aspects of the economy. Due to heightened concerns about high prices, the purchasing conditions for durable goods have dropped to the lowest point in a year, with personal financial conditions currently down by 7%. Expectations for business conditions and the labor market also contracted in August.
However, despite being relatively low compared to a year ago, personal financial expectations for this month remain stable. It is worth noting that very few consumers mentioned recent events from the Bureau of Labor Statistics and the Federal Reserve (the survey was conducted until Monday, August 25, the day Trump announced the dismissal of Fed Director Powell).
