Welcome to the Dividing Cafe, weekly market commentary focused on dividends in your portfolio

and dividends in your understanding of economic life.

Well, hello and welcome to the Monday edition of Dividendon Cafe brought to you on this Tuesday,

September 3rd. I am David Bonson, Chief Investment Officer,

managing partner at the Bonson Group. Yesterday was Labor Day, so we did not have a Monday

edition. So I'm doing it for you here today. I recognize that a lot of you are probably

only tuning in because you want to hear an update

on how the USC game went on Sunday night.

And you may not know that USC won that game.

But I also understand that there are some of you that watched it, digested it, have seen the highlights a number of times, and you're ready

just to get straight to the market summary. So I'll leave the USC win over LSU alone and the

final minute drive to score the winning touchdown with eight seconds to go. We're going to skip over

that and go straight to today's market, which today's market was not a winning final drive type

moment. The S&P was down over 2.1%. The NASDAQ was down a brutal 3.5%. The Dow was only down 1.5%. But that's 626 points.

And the catalyst to today's sell-off, not only has everything been up quite a bit as of late, but

obviously with the NASDAQ down that much, you can guess it was largely a tech

driven sell-off. The tech sector alone, which was the worst performing sector, was down 4.43%. Vidia was down 9.5%

and it's down now 23% from its recent high. So you kind of had a big tech semiconductor driven

sell-off. It spread around a significant part of the market. There was a bit of concerning

economic data. Just as late last week, the Q2 real GDP number was revised upwards. But then on the

flip side of that, today the ISM manufacturing number was worse than expected. It was the fifth

month in a row of contraction in manufacturing. So this is an ongoing theme of ours, that there is a

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