Table of Contents

• US Markets

• Nokia

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Economy & Finance

US Markets

U.S. stocks experienced a significant decline on Tuesday, led by a drop in technology stocks and poor economic data that revived concerns about economic health. The Dow Jones Industrial Average fell by over 626 points, marking a 1.51% decline, while the S&P 500 and Nasdaq Composite fell by 2.12% and 3.26% respectively. This downturn was noted as the worst performance since a major sell-off on August 5. The technology sector, particularly chip stocks such as Nvidia, which fell over 9%, contributed heavily to the market's losses. Manufacturing data indicating a slowdown added to fears of a stalling U.S. economic growth, prompting the sell-off. Economic concerns were heightened by manufacturing production indices from S&P Global and the Institute for Supply Management, both of which showed weaker than expected results.

Technology

Nokia

Nokia has entered into a partnership with U.S. telecom giant AT&T to develop a fiber network in the United States. This collaboration is part of Nokia’s broader strategy to expand its fiber operations, especially following a setback where AT&T favored Ericsson for a major telecom network project. This new agreement, which will span five years, aims to enhance broadband access across the U.S., supporting AT&T's goal to extend its fiber network, which already reaches millions. Additionally, Nokia recently made a significant acquisition of the U.S. optical networking firm Infinera, marking a strategic move to strengthen its position in the network infrastructure market amidst the rising demand for data centers and AI technology capabilities.

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