Tech shares have also been hit the hardest in this sell-off as rising rates expose their relatively high valuations and raise their cost of capital. companies selling advanced computing semiconductors and related manufacturing equipment to China. would likely fall into a recession in 2023, and that it may not be just a mild economic contraction as some economists have projected.Ī policy change weighed on semiconductor stocks after the Biden administration announced new export controls that limit U.S. The declines came as JPMorgan CEO Jamie Dimon warned that the U.S. The S&P 500 also fell 0.75% to 3,612.39, dragged down by semi stocks and dips in major tech names like Microsoft, while the Dow Jones Industrial Average shed 93.91 points, or 0.32%, to close at 29,202.88. The Nasdaq Composite closed 1.04% lower at 10,542.10, hitting its lowest close since July 2020, weighed down by a slump in semiconductor stocks such as Nvidia and AMD. The deceased have been identified as Anand Prakash (35), resident of Dehri, Bihar, Akhilesh Singh (35), and Deepak Kumar (37), both from Aurangabad, Bihar while efforts were on to identify the fourth deceased, the DM said.Stocks closed lower on Monday with the Nasdaq Composite index falling to the lowest level in two years as tech shares continue to be the hardest hit in this bear market because of spiking interest rates. The police and Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) officials soon rushed to the spot to carry out relief and rescue operations, he said.ĭistrict Magistrate Ravish Kumar and Superintendent P Somen Burma soon reached the spot and directed the SDM to take necessary action. READ | DNA Explainer: What is objectionable in XXX, the Ekta Kapoor show facing SC criticism The collision was so severe that the engine of the car and all four occupants were blown away and fell at some distance away, the official said. The BMW going from Sultanpur was hit by the container coming from the opposite direction on the expressway under the Haliapur police station area, he said. Four persons were killed on the Purvanchal Expressway in Uttar Pradesh when a container truck hit their BMW car on Friday, a senior official said.

Mohan hits