U.S. stock markets witnessed a significant downturn as the enthusiasm surrounding artificial intelligence technology on Wall Street continued to wane.
The S&P 500 fell by 1.6% on Thursday, marking its fifth dip within six sessions, following an all-time record high last week. The decline is largely attributed to uncertainties about the future of the U.S. economy, including apprehensions over President Donald Trump’s tariff policies. As a result of these concerns, the index has erased almost the entire rally except for a modest 1.4% gain since Election Day.
The Dow Jones Industrial Average experienced a 0.4% decrease, while the Nasdaq composite saw a 2.8% plunge. The market was severely impacted by the slumping performance of Nvidia and other AI-centric stocks that were once the market’s shining stars.
On Thursday, specific figures showed that:
– The S&P 500 dropped 94.49 points, stabilizing at 5,861.57.
– The Dow Jones Industrial Average lowered by 193.62 points, standing at 43,239.50.
– The Nasdaq composite declined by 530.84 points, resting at 18,544.42.
– The Russell 2000 index, which tracks smaller companies, fell by 34.51 points, settling at 2,139.66.
Assessing the week’s performance:
– The S&P 500 totalled a decrease of 151.56 points, or 2.5%.
– The Dow dropped 188.52 points, or 0.4%.
– The Nasdaq saw a steep decline of 979.59 points, or 5%.
– The Russell 2000 fell by 55.69 points, or 2.5%.
Examining the performance for the year to date:
– The S&P 500 is down 20.06 points, equating to a 0.3% decrease.
– The Dow, inversely, rose by 695.28 points, or 1.6%.
– The Nasdaq has fallen by 766.37 points, translating to a 4% reduction.
– The Russell 2000 decreased by 90.50 points, marking a 4.1% loss.
