---
title: "What happened overnight – Thursday 29th August 2024"
publisher: "Share Talk"
author: "sharetalk"
published: "2024-08-29T06:46:19+00:00"
modified: "2024-08-29T06:46:19+00:00"
date: 2024-08-29
canonical: "https://www.share-talk.com/what-happened-overnight-thursday-29th-august-2024/"
category: "B2B"
categories: ["B2B", "Blogs", "Business & Support Services", "Technology", "Technology, Media & Telecoms"]
tags: ["Asian", "Australia", "china", "Dow Jones Industrial Average", "factory data", "Hang Seng", "Hong kong", "Jakarta", "Japan", "Jerome Powell", "Korean", "Manila", "markets", "NASDAQ", "Nasdaq Composite index", "Nikkei 225 index", "S&P 500", "Seoul", "shanghai", "Singapore", "South Korea", "Stock Markets", "Sydney", "Taipei", "Taiwan", "Tokyo", "US Federal Reserve", "US stocks", "US Treasury bonds", "Wall Street", "Wellington"]
image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/08/WORLD-750x406-1.webp?fit=750%2C406&quality=80&ssl=1"
format: "news"
language: "en-GB"
---

# What happened overnight – Thursday 29th August 2024

**Published:** August 29, 2024
**Author:** sharetalk
**Categories:** B2B, Blogs, Business & Support Services, Technology, Technology, Media & Telecoms
**Tags:** Asian, Australia, china, Dow Jones Industrial Average, factory data, Hang Seng, Hong kong, Jakarta, Japan, Jerome Powell, Korean, Manila, markets, NASDAQ, Nasdaq Composite index, Nikkei 225 index, S&P 500, Seoul, shanghai, Singapore, South Korea, Stock Markets, Sydney, Taipei, Taiwan, Tokyo, US Federal Reserve, US stocks, US Treasury bonds, Wall Street, Wellington
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/08/WORLD-750x406-1.webp?fit=750%2C406&quality=80&ssl=1)

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Wall Street stocks closed lower last night, as declines in major technology companies overshadowed gains elsewhere in the market.

The S&P 500 fell by 0.6% to 5,592.18, driven down by drops in Nvidia, Apple, Microsoft, and Amazon. Approximately 56% of the stocks in the benchmark index ended the day in the red.

Nvidia’s shares continued their decline from earlier in the day, plummeting over 7% in after-hours trading.

The Dow Jones Industrial Average, which had recently reached two consecutive all-time highs, dropped 0.4% to 41,091.42. The Nasdaq Composite, heavily weighted with tech stocks, fell 1.1% to 17,556.03.

The decline came ahead of Nvidia’s eagerly anticipated earnings report. As a key player in AI technology with a market value exceeding $3 trillion, Nvidia’s second-quarter results, which surpassed Wall Street’s forecasts, still led to an after-hours drop of over 8% in its stock.

In the bond market, the yield on 10-year Treasury notes edged up to 3.84% from 3.83% on Tuesday.

In Asia, stocks followed their US counterparts lower, as Nvidia’s disappointing earnings cast a shadow over the tech sector. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.6%, the Nikkei dropped 0.4%, and South Korea’s market declined by 0.7%.

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