Financial Digest

Stock market today: Stocks fall from records as Tesla, Nvidia lead tech sell-off

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 26 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 63%

Nasdaq Composite News

Inflation Report,Nvidia

Jerome Powell steps up for part two of his policy update to Congress, with investors on the alert for more clues to rate-cut prospects.

US stocks rolled over on Thursday as investors rotated out of tech after a key inflation report showed consumer prices unexpectedly fell on a month-over-month basis for the first time since 2020. The S&P 500 dropped 0.9% to fall back below 5,600 after crossing the level for the first time on Wednesday. The Dow Jones Industrial Average rose nearly 0.1%. The tech-heavy Nasdaq Composite led the way down, sinking almost 2%.

Investors flocked to rate sensitive sectors like Real Estate and Utilities following June's cooler than expected inflation print. The Consumer Price Index last month declined 0.1% over the previous month and increased just 3.0% over the prior year. The annual gain was the slowest rise in consumer prices since early 2021. Stock gains had picked up pace this week as Fed Chair Jerome Powell suggested that conditions are almost right for the Federal Reserve to start making interest-rate cuts.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Nvidia slump pressures Nasdaq as stocks mixed to start last week of Q2Stocks are hoping to add a punchline to what's been a high-flying quarter thus far.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Stocks little changed as Nvidia, AI rally shows signs of fatigueA tech-led rally showed real signs of fatigue for the first time in over a week.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Nvidia climbs to Wall Street's mountaintop as stocks broadly driftNEW YORK (AP) — U.S. stocks edged up to more records following the latest signal that the economy’s growth may be slowing without cratering, while Nvidia continued its rocket ride upward to become Wall Street’s most valuable company.
Source: SooToday - 🏆 8. / 85 Read more »

Nvidia Dethrones Tesla as Single-Stock ETF King With 400% RallyThere’s a new stock reigning supreme in a speculative part of the ETF investment landscape.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Stock market today: Stocks extend record-setting rally, Tesla rises ahead of Musk pay decisionInvestors are continuing to weigh signs of cooling inflation and a hawkish shift in the Fed's view on rate cuts.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »