00:01 Speaker A
It’s time for Yahoo Finance’s market minute. Stocks are falling to kick off September, which is a seasonally poor month for stocks.
00:06 Speaker A
Meanwhile, Treasury yields rising, the 30-year eyeing the key 5% level for the first time since July.
00:13 Speaker A
Tariff uncertainty, concerns over Fed independence, and a looming jobs report all weighing on markets.
00:18 Speaker A
Mag 7 stocks are falling as AI hype continues to slide following last week’s earnings disappointments. Nvidia, Alphabet, and Amazon all down by around 3%.
00:26 Speaker A
Kraft Heinz shares are sinking after announcing it plans to split into two companies. Warren Buffett, whose Berkshire Hathaway is the largest Kraft Heinz shareholder with a 27 and a half percent stake in the company, telling CNBC he’s, quote, disappointed in the decision to split.
00:41 Speaker A
And Lucid shares are sinking after executing a one for 10 reverse stock split. The EV maker has been under pressure with sales, shares down nearly 40% this year as Lucid’s board has been on the hunt for a new CEO since the company’s long-time chief executive stepped down in February.
00:56 Speaker A
And that’s your Yahoo Finance market minute.
