"Market Crash Imminent: Nasdaq Slides as Big Tech Faces Pressure"

The stock market experienced a slide, with the Nasdaq leading the declines as Big Tech companies faced pressure following disappointing earnings reports and rising bond yields. The S&P 500 and Dow Jones Industrial Average also dropped, with concerns growing over high valuations in the face of surging Treasury yields. The US economy grew at its fastest pace in nearly two years, but economists caution that the surge in activity may not indicate sustained reacceleration due to factors such as monetary tightening and tightening financial conditions. Oil prices fell as hotter-than-expected GDP results and ongoing conflicts in the Middle East increased expectations of continued commitment to higher interest rates by the Federal Reserve. Morgan Stanley announced that longtime veteran Ted Pick will succeed CEO James Gorman, and Ford reached a tentative labor deal with the United Auto Workers, potentially ending the longest autos strike in 25 years.