The S&P 500 and the NASDAQ had the biggest single-day drop since June 1.
After closing at record highs on Wednesday, the NASDAQ, S&P 500 and DIJA all did an about-turn and dropped on Thursday. The S&P 500 fell 3.5%, DIJA dropped 2.8% and NASDAQ sunk just less than 5%. This was the biggest single-day drop for the S&P 500 and the NASDAQ since June 11. Apple was down 8% and lost $179.92 billion in market value while Tesla dropped 9% and is now down about 19% from its record high earlier this week. Click here to read more.
DocuSign Inc (NASDAQ: DOCU), an e-signature company, beat Wall Street earnings estimates for Q2 as it continued to experience a boost from remote-work trends. Revenue climbed to $342.2 million from $235.6 million in Q2 2019 and $319 million as expected by analysts. The company also expressed confidence that its service will remain more effective and relevant even if the remote-work trend winds down. For Q3, DocuSign expects to see its revenue rise to somewhere between $358 million and $362 million. Click here to read more.
Goldman Sachs Group Inc (NYSE: GS) has been discharged and acquitted from all criminal charges brought against it by Malaysian prosecutors in the 1Malaysia Development Berhad (1MDB) scandal. This move comes after the Bank agreed to pay $3.9 billion to Malaysia to settle the probe into its alleged role in the scandal involving the 1MDB. Click here to read more.
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Here are the biggest movers in pre-market trading
1. Sanofi and GSK have started early-stage clinical trials of their jointly developed Covid-19 vaccine. Click here to read more.
2. Virgin Atlantic to cut over 1,000 more jobs as demand languishes. Click here to read more.
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