The results of sales in the global markets of this material are produced and distributed by a foreign agent of Bell or refer to the activity of a foreign agent of Bell. 18+ The US stock market experienced its sharpest decline in more than a year. On Thursday, the S&P 500 lost $3 trillion in equity, down 4.4%, and the Nasdaq 100 fell 6.4% — the strongest since March 2020. The sale began shortly after the opening of trading and extended throughout the day. All 11 sectors of the S&P 500 fell. Investors sold off articles like AI-rally, and traditional defensive assets like retail giant Walmart. Chip makers The Philadelphia Semiconductor Index lost 12%, the most since March 2020, and fell 16% since the start of the week. Today more than 38 percent below the June 22 peak. Nvidia shares sank more than 9 percent, the strongest since January 2025, and lost all of their year-to-date gains. Recent Growth Leaders The iShares MSCI USA Momentum Factor ETF, which focuses on stocks with the strongest quote growth, fell 8.2%. It's also his worst result since 2020: the strategy of buying winners was particularly vulnerable to a sharp change in sentiment. Risky Companies A Goldman Sachs basket of not-for-profit technology companies, including the development of streaming platform Roku, has lost 7.7 percent since early June. Small caps The Russell 2000 index of small companies fell by about 4.5% and entered a correction. On Friday, the sell-off started to stand, with S&P 500 futures adding 0.2 percent and Nasdaq 100 up 1.1 percent. Tre's growth as a hedge asset has stalled, the dollar has strengthened against all major currencies. Why did the sale start?