US markets today: Wall Street slips as Nvidia extends losing streak; global tech rout deepens after Cloudflare glitch

Market Overview - Wall Street experienced a decline, with the S&P 500 falling 0.3%, the Dow Jones Industrial Average dropping 361 points, and the Nasdaq composite declining 0.6% [6] - The downturn was influenced by a fresh slide in major technology stocks, particularly Nvidia, which has seen its shares fall 8.6% this month [6] Company Performance - Home Depot reported summer-quarter profits below expectations, attributing the shortfall to fewer major storms, anxious consumers, and a slowdown in the housing market, leading to a 3.1% drop in its shares and a cut in its fiscal 2025 adjusted earnings guidance [4][6] - Nvidia's shares slipped another 1.1% ahead of its earnings announcement, following a 1.9% decline on Monday [4][6] - Other chipmakers, including Micron, Intel, and Qualcomm, experienced losses between 1% and 2% [4][6] - Microsoft and Amazon also saw declines of 1.5% and 1.8%, respectively [6] Global Market Impact - European and Asian markets followed Wall Street lower, with major indices in Germany, France, and the UK down 1.4% by midday [5][6] - In Asia, Japan's Nikkei 225 slumped 3.2%, with significant losses in chip-related companies like Tokyo Electron and Advantest [5][6] - The Kospi in Seoul tumbled 3.3%, with Samsung Electronics and SK Hynix losing 2.8% and 5.9%, respectively [5][6] - Taiwan's Taiex fell 2.5%, while Hong Kong's Hang Seng index dropped 1.7% [5][6] Economic Indicators - Investors are preparing for delayed US employment data, which is expected to influence the Federal Reserve's next interest rate move [5][6] - The Fed has indicated that a strong jobs report could delay further rate cuts, while weak numbers may raise concerns about economic momentum [5][6] - Japan's 30-year government bond yield surged to 3.31% amid plans for higher government spending [5][6] Commodity Market - Bitcoin extended its recent declines, slipping another 1% to around $91,360, its lowest level since April [5][6] - Gold eased slightly to $4,039 an ounce, while US benchmark crude held steady just under $60 a barrel [5][6]