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Markets Tremble Over Planned China Chip Restrictions, Trump's Election Odds Rise, CrowdStrike Triggers Global Tech Outage: This Week In The Market

In a week packed with global breaking events, both the S&P 500 and the Nasdaq 100 indices marked their worst weekly performance in three months, predominantly driven by a broad-based selloff in chipmakers. A a drop in major equity averages at the end of the week might have escalated significantly if last weekend’s events in Butler, Pennsylvania, had not ended as they did. During a Donald Trump rally, a sniper attempted to assassinate the Republican candidate, narrowly grazing his ear but missing a potentially fatal target. According to prediction markets, the betting-implied odds of a Trump victory spiked to 75% before dropping to 65% on Friday as Kamala Harris gained traction over Biden. A black Wednesday hit the semiconductor sector after reports ...