US Stock Markets Witness Downturn as Tech Heavyweights Leading Decline

Mixed Performance in US Stock Market as Tech Giants Face Declines

Key Points:

  • The S&P 500 exhibited a decrease of 0.91%, the Nasdaq 100 index recorded a decline of 1.20%, and the Dow 30 index experienced a downturn of 1.22%.
  • Tesla, Inc. (TSLA) and Advanced Micro Devices, Inc. (AMD) experienced significant declines of 4.98% and 3.37%, respectively.
  • VivoPower International PLC (VVPR), Ashford Inc. (Holding Company) (AINC), and XTI Aerospace, Inc. (XTIA) were the top performers.
  • Acorda Therapeutics, Inc. (ACOR), Verve Therapeutics, Inc. (VERV), and Canoo Inc. (GOEV) faced notable setbacks.

The U.S. stock markets faced a downturn, with key indices reflecting negative trends. At 01:55 PM (ET), the S&P 500 decreased by 0.91% to 5195.96. Similarly, the Nasdaq 100 index recorded a decline of 1.20%, settling at 18073.04. Meanwhile, the Dow 30 index experienced a downturn of 1.22%, reaching 39083.23.

NVIDIA Corporation (NVDA) saw a minor decrease of 1.09% to $893.76, while Tesla, Inc. (TSLA) faced a significant decline of 4.98% at $166.50. Advanced Micro Devices, Inc. (AMD) followed suit with a decrease of 3.37% to $177.17. However, Apple Inc. (AAPL) and Microsoft Corporation (MSFT) demonstrated relative stability, with AAPL declining 0.61% at $169.00 and MSFT losing 0.64% at $421.85.

Amidst the market’s volatility, several stocks emerged as gainers. VivoPower International PLC (VVPR) surged impressively by 346.21% to $6.47, followed by Ashford Inc. (Holding Company) (AINC), which increased by 107.21% to $4.60. XTI Aerospace, Inc. (XTIA) and GSI Technology, Inc. (GSIT) also witnessed notable gains, rising by 85.92% and 46.20%, respectively.

On the downside, some stocks struggled as losers in the turbulent market. Acorda Therapeutics, Inc. (ACOR) plummeted drastically by 76.32% to $3.19, followed by Verve Therapeutics, Inc. (VERV), which declined by 36.83% to $8.08. Canoo Inc. (GOEV) and CXApp Inc. (CXAI) also faced setbacks, showing decreases of 26.87% and 22.76%, respectively.

In currency markets, the euro to US dollar (EURUSD) pair stood at 1.07660, with the dollar increasing by 0.22%. Conversely, the US dollar to Japanese yen (USDJPY) pair saw a minor decline at 151.569 yen per dollar, a decrease of 0.03%. Meanwhile, the Australian dollar to US dollar (AUDUSD) pair rose to 0.65126, marking a gain of 0.37%. The US Dollar Index (DXY) recorded a slight dip at 104.794 (-0.16%), while the Euro Index (EXY) climbed by 0.25% to 107.70, and the Japanese Yen Index (JXY) increased by 0.08% to 65.98.

In commodities trading, Crude oil futures surged by 1.49% to $84.96, while Brent crude futures rose by 1.04% to $88.72. Henry Hub’s natural gas futures notably increased by 2.12% to $1.876. Similarly, RBOB gasoline futures experienced a modest uptick of 1.11% to $2.74. Gold futures climbed by 1.17% to reach $2283.5.

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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