Nasdaq tumbles as Jackson Hole jitters hit tech stocks

Nasdaq tumbles as Jackson Hole jitters hit tech stocks

By Johann M Cherian, Sanchayaita Roy and Carolina Mandl

Tue August 19, 2025 4:44 PM

There appears to be a fair amount of skepticism about a positive result coming from Jackson Hole later this week so today saw a big sell off in tech as a cautionary move. Meanwhile the Dow hit a new record early in the morning before beginning a decline and losing all but 10 points of its gains by close. There may have been a rationale behind the tech sell-off though as mentioned by today’s expert being that some stocks have become overweighted so there is now rotation back into others.  

Good news included Home Depot coming in with a stable annual forecast with Lowes, Walmart and Target coming later in the week to take the pulse of consumer spending. There was also the very good news that analysts predict the S&P will close the year at 6,300 – very close to its current record levels. Today the oddsmakers also went back to two rate cuts by the end of the year, after lowering those odds yesterday. The overall consensus remains, “They’re waiting to see the full impact of the tariffs.” Per the CBOE, volume came in at 16.0 billion, still well below the 18.2 average, but getting closer.  

DJ: 44,911.82  -34.30       NAS: 21,629.77  +6.80        S&P: 6,449.15  -0.65         8/18

DJ: 44,922.27  +10.45      NAS: 21,314.95  -314.82     S&P: 6,411.37  -37.78         8/19

Tue 8-19-25 4:44 pm Nasdaq tumbles as Jackson Hole jitters hit tech stocks | Reuters