US Stock Markets Experience Downturn as Tech Stocks Decline

Mixed Performance in US Stock Market as Tech Giants Face Declines

Key Points:

  • Major indices experienced a downturn; the S&P 500 index was down by 1.52%, the Nasdaq 100 declined by 1.77%, and the Dow 30 decreased by 1.32%.
  • NVIDIA Corporation (NVDA), Tesla, Inc. (TSLA), Advanced Micro Devices, Inc. (AMD), and, Inc. (AMZN) experienced significant decline.
  • Indonesia Energy Corporation Limited (INDO), Houston American Energy Corporation (HUSA), and HNR Acquisition Corp (HNRA) were among the gainers.
  • Destiny Tech100 Inc. (DXYZ), Monogram Orthopaedics Inc. (MGRM), NFT Limited (MI), and Linkage Global Inc (LGCB) were among the worst performers.

The U.S. stocks showed a downturn, with major indices experiencing a significant decline. At 1:20 PM (ET), the S&P 500 stood at 5119.99, down by 1.52%, while the Nasdaq 100 followed suit, experiencing a decline of 1.77% to 17984.52. Similarly, the Dow 30 decreased, settling at 37952.00, reflecting a drop of 1.32%.

In technology and innovation, NVIDIA Corporation (NVDA) maintained a position of prominence at $886.22, experiencing a slight dip of 2.20%. Apple Inc. (AAPL) saw stability at $175.18, with a marginal increase of 0.08%. Tesla, Inc. (TSLA) faced a downturn at $171.13, down by 1.99%, while Advanced Micro Devices, Inc. (AMD) encountered a more significant decline at $163.00, down by 4.40%., Inc. (AMZN) followed suit at $185.51, with a decrease of 1.87%, while Microsoft Corporation (MSFT) also experienced a decline at $420.62, down by 1.71%.

Among the notable gainers, Indonesia Energy Corporation Limited (INDO) stood out with an impressive surge, reaching $5.26, marking a substantial increase of 91.97%. Houston American Energy Corporation (HUSA) and HNR Acquisition Corp (HNRA) displayed robust growth, climbing by 46.88% and 47.48%, respectively, with prices at $2.35 and $3.37. EZGO Technologies Ltd. (EZGO) saw a notable rise, reaching $2.03, up by 27.83%.

Conversely, the stock losers encountered a more challenging landscape. Destiny Tech100 Inc. (DXYZ) faced a significant setback, plunging to $35.85, down by 28.88%. Monogram Orthopaedics Inc. (MGRM) and NFT Limited (MI) also experienced declines at $3.08 and $5.05, respectively, with drops of 24.32% and 30.34%. Meanwhile, Linkage Global Inc (LGCB) exhibited a decrease, falling to $3.00 with a decline of 9.37%.

In commodities trading, crude oil futures surged to $85.91, marking a 1.05% increase, while Brent crude futures rose to $90.61, up by 0.97%. Conversely, Henry Hub natural gas futures experienced a slight dip, reaching $1.763, a decrease of 0.06%. RBOB gasoline futures exhibited strength, climbing to $2.8186, reflecting a notable 1.60% gain. Meanwhile, gold futures increased to $2380.8, indicating a modest increase of 0.34%.

The Euro weakened against the US Dollar in currency markets, with EUR to USD at 1.06429, marking a decrease of 0.78%. Conversely, the US Dollar strengthened slightly against the Japanese Yen, with USD to JPY at 153.126, up by 0.05%. The Australian Dollar also depreciated against the US Dollar, with AUD to USD at 0.64591, down by 1.18%. In terms of currency indices, the US Dollar Index (DXY) rose by 0.69% to 105.986, while the Euro Index (EXY) declined by 0.80% to 106.42, and the Japanese Yen Index (JXY) increased marginally by 0.06% to 65.31.

TechGolly editorial team led by Al Mahmud Al Mamun. He worked as an Editor-in-Chief at a world-leading professional research Magazine. Rasel Hossain and Enamul Kabir are supporting as Managing Editor. Our team is intercorporate with technologists, researchers, and technology writers. We have substantial knowledge and background in Information Technology (IT), Artificial Intelligence (AI), and Embedded Technology.

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