Technology stocks are bleak! The Nasdaq experienced its largest daily decline since 2022, with a net

Technology stocks plummet

Due to lower than expected Q2 financial reports from Google's parent companies Alphabet and Tesla, which fell 5% and 12% respectively, other tech stocks were dragged down, including Whirlpool and Facebook's parent company Meta, which fell 6.8% and 5.6% respectively, while Microsoft fell 3.6%. The Nasdaq index, dominated by technology stocks, recorded its largest daily decline since 2022. Major US indices closed down yesterday:

The Nasdaq fell 3.64%. The Dow Jones Industrial Average fell 1.25%. The S&P 500 index fell 2.31%.

Cryptocurrency linkage, net outflow of Ethereum ETF

The cryptocurrency market, which has always been linked to technology stocks, cannot escape the fate of decline. Bitcoin and Ethereum both fell rapidly last night.

Among them, although the Ethereum ETF had a net inflow of about $100 million on the first day of trading, its performance on the second day was quite poor. The net outflow of Grayscale's ETF was still quite high, about $300 million. However, the net inflow of other ETFs could not keep up with Grayscale's outflow speed, resulting in an overall net outflow of $130 million on the second day of the Ethereum ETF's listing, throwing back all the funds inflow on the first day.