SQUAWK BOX, THURSDAY 3RD AUGUST. 2023

U.S. stocks hit sell-off mode - with the Nasdaq registering its worst day since February as investors digest the Fitch downgrade. JP Morgan CEO Jamie Dimon tells CNBC the decision was "ridiculous". The Bank of England prepares to deliver its fourteenth straight rate hike today as inflation pressures appear to ease, but speculation ramps up over how big the increase will be. Societe Generale beats on the bottom line in the second quarter and confirms its full year outlook, adding to a run of strong results from Europe's banks. Qualcomm shares sink in extended trade after the chipmaker posts a miss on revenue and issues softer guidance, as attention turns to Apple later today - with numbers out after the bell.