8x8, Monday.com, Confluent, ON24, and Dayforce Shares Plummet, What You Need To Know\n\nA number of stocks fell in the afternoon session after the White House announced a new round of steep global tariffs, sparking concerns of a trade war and its impact on the U.S. and global economies.\n\nThis move creates significant uncertainty for businesses and investors. The new tariffs, with rates of up to 41% on imports from 68 countries and the European Union, prompted a broad market sell-off, with the tech-heavy Nasdaq index showing notable weakness. Adding to the bearish sentiment was a weaker-than-expected July jobs report, which revealed that employers created only 73,000 jobs, far below economists' expectations. This combination of trade fears and signs of a slowing labor market has created a \"risk-off\" environment, leading investors to pull back from growth-oriented sectors like software and technology.\n\nThe stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.\n\nAmong others, the following stocks were impacted:\n\nVideo Conferencing company 8x8 (NASDAQ:EGHT) fell 4.4%. Is now the time to buy 8x8? Access our full analysis report here, it’s free.\n\nProject Management Software company Monday.com (NASDAQ:MNDY) fell 3.7%. Is now the time to buy Monday.com? Access our full analysis report here, it’s free.\n\nData Infrastructure company Confluent (NASDAQ:CFLT) fell 3.7%. Is now the time to buy Confluent? Access our full analysis report here, it’s free.\n\nVirtual Events Software company ON24 (NYSE:ONTF) fell 4.1%. Is now the time to buy ON24? Access our full analysis report here, it’s free.\n\nHR Software company Dayforce (NYSE:DAY) fell 3.8%. Is now the time to buy Dayforce? Access our full analysis report here, it’s free.\n\nZooming In On 8x8 (EGHT)\n\n8x8’s shares are extremely volatile and have had 41 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.\n\nThe previous big move we wrote about was 21 days ago when the stock dropped 4.1% after a broader market sell-off triggered by renewed trade tensions. U.S. stock indices fell after the Trump administration announced intentions to impose a 35% tariff on many goods imported from Canada. This move is far more than a typical trade dispute; it targets the United States' largest and most deeply integrated trading partner. Canada is not merely a neighbor but a critical component of North American supply chains, particularly in sectors like automotive, energy, and critical minerals. This move has sparked concerns about potential retaliatory actions and a wider impact on the North American economy, leading to a risk-off sentiment among investors. The S&P 500, Dow Jones Industrial Average, and Nasdaq all opened lower, pulling back from recent record highs and heading for their first weekly loss in three weeks.\n\n8x8 is down 30.3% since the beginning of the year, and at $1.86 per share, it is trading 46.5% below its 52-week high of $3.47 from February 2025. Investors who bought $1,000 worth of 8x8’s shares 5 years ago would now be looking at an investment worth $114.15.\n\nHere at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.

8x8, Monday.com, Confluent, ON24, and Dayforce Shares Plummet, What You Need To Know

The article discusses a market sell-off triggered by the White House's announcement of new global tariffs and a weak July jobs report, leading to declines in stocks of several tech companies including 8x8, Monday.com, Confluent, ON24, and Dayforce. The tariffs and economic concerns created a 'risk-off' environment, prompting investors to avoid growth sectors.