US EditionWall Street indexes end lower after sharp reversal, tech leads decline
Stocks fell as Nvidia shares dropped after an early surge, with the S&P 500 down 1.6% amid mixed U.S. September jobs data affecting Federal Reserve rate cut expectations.
- On Thursday, Wall Street reversed an early rally, with the Dow falling 386.51 points, the S&P 500 dropping 1.6%, and the Nasdaq sinking 2.2%.
- Investor concern over lofty AI winners and mixed jobs data pushed risk sentiment lower as traders priced roughly a 40% chance of a December rate cut, up from 30% the day before.
- Nvidia led an early rally that later reversed, with shares jumping 5% before dropping 3%, while the Nasdaq Composite and Dow Jones Industrial Average swung over 1,000 points intraday.
- Amid the selloff, the Cboe Volatility Index jumped while the 10-year Treasury yield eased to 4.09%, with Bitcoin dropping below $87,000 and Robinhood Markets and Coinbase Global tumbling 10.1% and 7.4%.
- Questions persist about whether current AI spending will yield the promised economic gains, as Bank of America found record fund managers citing overinvestment, while the Federal Reserve faces trade-offs after cutting rates twice this year with inflation above its 2% target.
33 Articles
33 Articles
Wall Street indexes down after sharp reversal, tech leads decline
Indian markets saw a sharp fall on Thursday. Early gains in Wall Street stocks reversed as technology shares declined. Nvidia's earnings and U.S. jobs data influenced investor sentiment. The unemployment rate rose, increasing chances of a Federal Reserve rate cut. Consumer staples led gains while technology stocks fell. Walmart advanced on a raised forecast.
Wall Street took a turn and closed this Thursday in red numbers by again imposing on the market the fear of a bubble in the artificial intelligence sector (AI) despite Nvidia's good quarterly results released on the eve.This diluted the initial profits unleashed by companies in the technology sector, and as we can review, the indicators closed with negative balances.Nasdaq dropped 2.15 percent to 22 thousand 78.05 points; the second big fall was…
Wall Street indexes end lower after sharp reversal | Honolulu Star-Advertiser
NEW YORK >> Wall Street stocks slid today in a sharp reversal from an early rally, as technology gains faded after a boost from Nvidia’s earnings and U.S. jobs data muddied the labor market outlook.
Dow’s 700-point gain wiped out in rollercoaster trading day as Nvidia rally fizzles
Wall Street stocks fell on Thursday in a sharp reversal from an early rally, as technology gains faded after a boost from Nvidia's earnings and US jobs data muddied the labor market outlook.
Dow Jones Today: Stock Indexes Post Massive Losses as Early Nvidia-Led Rally Fades; Walmart Jumps on Strong Results, Lifted Outlook
Major stock indexes erased big morning gains and closed sharply lower Thursday, a day after AI darling Nvidia reported quarterly results above analysts' lofty expectations.
Stocks See Big Reversal as Nvidia, Bitcoin Crushed: Markets Wrap
Volatility resurfaced on Wall Street in a session that saw tech stocks falling alongside cryptocurrencies amid an unwinding in speculative areas of the market just as worries grow about the Federal Reserve’s ability to cut rates.
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