The three major U.S. stock indices closed collectively lower
The three major U.S. indices closed collectively lower, with the Dow down 0.1%, the Nasdaq down 0.71%, and the S&P 500 down 0.4%, with most of the popular tech stocks falling, with Amazon and Meta down more than 2%.
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Goldman Sachs strategists have lowered their 12-month target for South Korea's KOSPI Index from 12,000 points to 9,000 points, representing a 25% decrease. Earlier this year, Goldman had raised the target multiple times. The latest downgrade is due to mounting concerns in the market over artificial intelligence (AI) trading.
