Nvidia Shockwave Hits Global Markets

Image source: Wikimedia Commons

Nvidia Shockwave Hits Global Markets. 📈 Global stocks tumbled Wednesday, driven by Nvidia's record sell-off and fears of slowing growth. European markets dropped 1%, with tech firms like ASML falling sharply. Oil prices also hit multi-month lows on worries about weaker demand. Reuters reports.

📈 Volkswobble: Volkswagen flags lower sales as labor unions protest potential plant closures. CNBC reports.

🚦EX90Launch: Volvo Cars to deliver first EX90 SUVs this month after delay. Reuters reports.

🔴 Penalty: The US Securities and Exchange Commission fined six major credit rating organizations a total of $49 million for their “significant failures” to keep electronic communications. CNN Business reports.

🔻EarningsDip: Zscaler’s stock drops after big whiff on profit outlook outweighs earnings beat. Market Watch reports.

🚫 Xblock: Starlink said it will block social network X in Brazil to continue operations there without the threat of losing its license. CNBC reports.

💼 BlackTrunk: Blackstone will buy Australian data centre group AirTrunk for an implied enterprise value of over A$24 billion. Yahoo reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1. $WISA: WiSA Technologies
Total gain: +65.44%

2. $WINT: Windtree Therapeutics
Total gain: +51.09%

3. $LGMK: LogicMark
Total gain: +29.54%

4. $CNFR: Conifer Holdings
Total gain: +25.21%

5. $ATRA: Atara Biotherapeutics
Total gain: +15.41%

* Bob Iaccino is a chief market strategist and co-founder of Path Trading Partners. He joins us live every Thursday from 11am ET, as our Risk Management educator.

What does a wedge signify?

A wedge is a potentially short-term bearish signal within a longer-term bullish chart.

What we look for to trade these is a breakdown because the breakdown gives us a very clear target. They’re one of my favorite patterns to trade because when you get a breakdown through the interior trendline that forms the wedge in the first place, you have a natural target: the bottom of the trend channel that the stock or asset was already in. That’s why wedges are useful.

The closing price of the top three market percent gainers trading near or above $3 on September 3.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1. $BOF: Branchout Food
Total gain: 67%
The company reported a remarkable 640% increase in net revenue for the first half of 2024, as disclosed in its 10-Q filed on August 14, 2024. Benzinga reports.

2. $WOR: Worthington Enterprises
Total gain: 30.56%
The stock appeared to be moving on no notable news.

3. $AIRI: Air Industries
Total gain: 22.80%
The stock appeared to be moving on no notable news.

*Estimate and Actual numbers represent Earnings Per Share in US Dollars

CXM: Sprinklr
2Q 2025
After Market Close
Estimate: 0.070
Actual: N/A

PHR: Phreesia
2Q 2025
After Market Close
Estimate: -0.360
Actual: N/A

VRNT: Verint Systems
2Q 2025
After Market Close
Estimate: 0.530
Actual: N/A

Time (ET) / Report / Period

8:30 am - U.S. trade deficit - July
10:00 am - Job openings - July
10:00 am - Factory orders - July

“Every successful trader I know ultimately ended up with a trading plan, rules, and guidelines to guide their decisions.”

― Jack D. SchwagerSourced in:
“Market Wizards: Interviews with Top Traders”, by Jack D. Schwager, published
in 1989