U.S. stocks weekly: Anxiety
** S&P 500 .SPX breaks three-week winning streak, declines 4.2% as investors kick off Sept in "risk-off" mood amid economic jitters .N
** Nearly every sector apprehensive: Technology most skittish, while defensive plays somewhat content
** Tech .SPLRCT tumbles 7.1%. AI heavyweight Nvidia NVDA.O suffers record $279 bln market value loss on Tues in broad equities selloff. NVDA registers ~14% weekly drop
Broadcom AVGO.O slumps as tepid rev forecast spooks investors betting on robust demand for AI chips, pushes peers down further on Fri
Semiconductor index .SOX dives ~12% for its worst weekly showing since Mar 2020
** Energy .SPNY slides 5.6%. Group falls as demand concerns clip crude prices O/R
** Financials .SPSY flop 3.2%. Banks sag as jobs data does little to clear uncertainty on expected rate cut
For the week, S&P 500 banks index .SPXBK loses 5.6%, and KBW regional banking index .KRX retreats 5.2%
** Consumer Discretionary .SPLRCD down 2.9%. Tesla TSLA.O gains on Thurs on plans for Q1 2025 launch of full self-driving in Europe, China. But TSLA skids Fri, finishes week off 1.6%
** Consumer Staples .SPLRCS eke out 0.6% gain. Though Dollar Tree DLTR.O worst SPX performer, plunges 21%, after cutting annual forecasts amid rising competition
** Meanwhile, with US yield curve US2US10=TWEB disinversion, is recession on the horizon? This as neutral sentiment rises in latest AAII survey
** SPX performance YTD:
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(Lance Tupper is a Reuters market analyst. The views expressed are his own)
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