The US stock market cascaded on Thursday since investors once again sold off tech stocks. The DJIA erased an earlier gain of up to 325 points, closing down 669 points or 1.3% at 49,451. The Nasdaq plunged 469 points or 2%, ending at 22,597. The S&P 500 finished down 108 points or 1.6% at 6,832.

Cisco (CSCO.US) logged quarterly results that beat expectations, but its gross margin target was lackluster. This prompted a slump of 12.3% in the stock at close, rendering it the top loser among the DJIA constituents.

Heavyweight techs faced hefty selling pressure, with Apple (AAPL.US) down 5%, Meta (META.US) and Amazon (AMZN.US) down over 2%, Nvidia (NVDA.US) down 1.6%, and Microsoft (MSFT.US) down less than 1%.

Meanwhile, defensive stocks advanced against the market trend, with Walmart (WMT.US) and Costco (COST.US) gaining 3.8% and 2.1%, respectively.
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AASTOCKS Financial News
Website: www.aastocks.com

SG Top Picks
Stock & Type	Code	Strike(Call Level)	Last	Effective Gearing
APPLE (C)	10079	320 (-)	N/A	N/A
APPLE (P)	11063	248 (-)	N/A	N/A
APPLE (P)	10793	210 (-)	N/A	N/A
META (C)	10003	900 (-)	0.026	15.2 X
META (P)	10757	700 (-)	1.100	6.1 X
AMZN (C)	10004	280 (-)	0.014	12.6 X
AMZN (P)	10700	180 (-)	0.050	12.4 X
MSFT (C)	11006	550 (-)	0.060	10.6 X
MSFT (P)	10715	435 (-)	0.580	8.2 X
MSFT (P)	11064	390 (-)	0.590	3.9 X
Nvidia (C)	10055	230 (-)	0.065	9.2 X
Nvidia (C)	11007	205 (-)	0.280	5.0 X
Nvidia (P)	10057	165 (-)	0.113	6.4 X