US EditionBig swings keep rocking Wall Street as S&P 500 veers from a nearly 2% jump to a 1% drop
U.S. stocks swung sharply as concerns about an AI bubble and Federal Reserve rate cut uncertainty influenced trading, with the S&P 500 dropping about 1%, analysts said.
- On Thursday, the S&P 500 erased an early 1.9% surge and fell 1.6% after dropping as much as 1.1%.
- Investor concern centers on AI investment and Fed policy as traders worried artificial-intelligence-related stocks may have surged too high and the September jobs report complicates Fed outlook.
- Company earnings and forecasts from Nvidia and Amazon moved markets, with Nvidia jumping 5% early then falling 1.5% and expecting $65 billion in chip sales, while Amazon flipped from a 2.1% gain to a 1.7% loss Thursday.
- The biggest winners took the sharpest losses as the Dow Jones Industrial Average fell 290 points and the Nasdaq composite sank 1.1%, while Walmart rallied 5.7% after a strong quarter.
- A Bank of America survey found record investor concern about overinvestment, while CME Group data shows traders assign a roughly 41% chance of a December cut after Federal Reserve cuts twice this year.
46 Articles
46 Articles
US futures quickly pivot to gains, but Wall Street may still suffer after rollicking week
Wall Street futures quickly reversed course and turned positive in premarket trading as recent volatility continued, particularly around artificial intelligence. Futures for the S&P 500 rose 0.3% before the bell Friday, while futures for the Dow Jones Industrial Average climbed…
Big swings keep rocking Wall Street as US stocks drop sharply after erasing a morning surge
NEW YORK — Jarring swings keep rocking Wall Street, and U.S. stocks erased a big morning gain to drop on Thursday as the market remains skittish following weeks of doubts and erratic moves. After initially soaring toward what seemed like its best day since May, with an early surge of 1.9%, the S&P 500 erased all of it and fell 1.6%. The Dow Jones Industrial Average dropped 386 points, or 0.8%, and the Nasdaq composite sank 2.2%. The sharpest los…
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