A significant decline on Wall Street has led the Nasdaq composite to tumble 10% below its record high due to growing upheaval concerning tariffs and diminishing allure in AI-driven sectors.
The S&P 500 witnessed a notable decrease of 1.8% by Thursday’s close. Additionally, the Nasdaq composite noticed a reduction of 2.6%, while the Dow Jones Industrial Average saw a 1% drop. These declines occurred despite President Donald Trump’s extension of certain tariffs temporarily.
The market’s instability has been exacerbated by uncertainties about a looming global trade war, which could adversely impact the global economy and heighten inflation. Markets were further pressured by substantial losses in AI-focused stocks, which dampened investor sentiment.
Thursday’s statistics reflected these movements:
The S&P 500 fell by 104.11 points, translating to a 1.8% decline, and now stands at 5,738.52. The Dow Jones Industrial Average decreased by 427.51 points, a 1% reduction, settling at 42,579.08. The Nasdaq composite saw a fall of 483.48 points or 2.6%, positioning itself at 18,069.26. The Russell 2000 index, which tracks smaller companies, declined by 34.19 points, or 1.6%, to reach 2,066.55.
For the current week, these declines have accumulated as follows:
The S&P 500 has decreased by 215.98 points, accounting for a 3.6% drop. The Dow has fallen by 1,261.83 points or 2.9%. The Nasdaq has experienced a downturn of 778.02 points or 4.1%. The Russell 2000 has declined by 96.52 points, or 4.5%.
On a yearly scale, the indices depict the following trends:
The S&P 500 has dropped by 143.11 points, marking a 2.4% downtrend. The Dow, with a slight increase, is up by 34.86 points or 0.1%. The Nasdaq has seen a significant decrease of 1,241.54 points or 6.4%. The Russell 2000 has faced a downturn of 163.60 points, corresponding to a 7.3% decrease.
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