U.S. stock markets retreated from their record highs as crude oil prices slid again, coupled with a decline in technology stocks. On Thursday, the S&P 500 index decreased by 0.8%, which followed the achievement of an all-time high the previous day, marking the 46th record for the year. Similarly, the Dow Jones Industrial Average experienced a drop of 0.8%, while the Nasdaq composite fell by 1%. Declines were particularly evident in chip manufacturers after ASML, a key supplier, cautioned about a slower recovery outside the booming artificial intelligence industry. Additionally, energy stocks, including Exxon Mobil, faced significant losses due to the continued decrease in oil prices. As the trading for U.S. bonds resumed after a brief holiday pause, Treasury yields saw a slight retreat.
On Tuesday, the numbers reflected the downturn in major indexes: the S&P 500 lost 44.59 points, settling at 5,815.26; the Dow Jones dropped 324.80 points, reaching 42,740.42; and the Nasdaq composite fell by 187.10 points to 18,315.59. Meanwhile, the Russell 2000 index, which represents smaller companies, saw a minor increase of 1.18 points, closing at 2,249.82.
Looking at the broader performance of the week, the S&P 500 is marginally up by 0.23 points, representing less than 0.1%. In contrast, the Dow has decreased by 123.44 points, or 0.3%. The Nasdaq has witnessed a smaller retreat of 27.35 points, which is also approximately 0.1% down. The Russell 2000 index, however, has shown some resilience with an increase of 15.41 points, or 0.7%.
From a year-to-date perspective, the S&P 500 has experienced a robust rise of 1,045.43 points, reflecting a gain of 21.9%. The Dow Jones has risen by 5,050.88 points, translating to a 13.4% increase. The Nasdaq’s performance has been particularly strong, up by 3,304.24 points, or 22%. Lastly, the Russell 2000 index has achieved an increase of 222.75 points, or 11%, marking steady growth for smaller companies in the aggregate.