hit tracker
Sunday, May 19, 2024
HomeLatest NewsThe Nasdaq loses 2.05% dragged down by the sharp falls of 'the...

The Nasdaq loses 2.05% dragged down by the sharp falls of ‘the magnificent seven’

Date: May 19, 2024 Time: 05:23:27

Wall Street closed this Friday in mixed territory and its main indicator, the Dow Jones, rose 0.56%, while the S&P 500 and the Nasdaq ended lower. At the close of the session, the Dow Jones stood at 37,986 points and the S&P 500 fell 0.88%, falling below 5,000 points, to 4,967.

But the steepest fall was suffered by the technology-based Nasdaq, which lost 2.05%, marking its sixth straight day of losses and the worst negative streak since the year began.

The Nasdaq was largely dragged down by the price of Nvidia, which sank to lose almost 10% (9.97%), the worst figure in a sector where ‘the magnificent seven’ of technology fell for the most part. In fact, the technology sector took a hit and lost 3.08%.

By sectors, in addition to technology, communications also lost (-2.03%) and non-essential goods (-1.19%); In the field of winners, public services (1.47%) and finance (1.35%) stand out. Among the 30 listed companies in the Dow Jones, technology companies lead the losses: Amazon (-2.56%), Intel (-2.4%), Microsoft (-1.27%) and Apple (-1.22%); American Express (6.23%), JP Morgan (2.51%) and Amgen (2.35%) fared much better.

Texas oil closed at $83.41 per barrel and, at the close of trading, gold rose to $2,402 per ounce and the euro was trading at $1.0653. The yield on the 10-year Treasury note also fell to 4.623%.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
RELATED ARTICLES

Most Popular

Recent Comments