US Stock Markets Witness Subtle Downturn; Tech Stocks Experienced Losses

US Stock Market Bounces Back After Volatility Amid Rate Cut Speculations

Key Points:

  • The S&P 500 Index decreased 0.96%, the Nasdaq 100 was down 1.58%, and the Dow 30 exhibited a modest dip of 0.53%.
  • NVIDIA Corporation, Tesla, Inc., Apple Inc., Advanced Micro Devices, Inc.,, Inc., and Microsoft Corporation saw significant declines.
  • Kaival Brands Innovations Group, Inc. (KAVL), Longeveron Inc. (LGVN), and Connexa Sports Technologies Inc. (YYAI) were among the top performers.
  • Swvl Holdings Corp (SWVL), Stronghold Digital Mining, Inc. (SDIG), and Cazoo Group Ltd (CZOO) were among the worst performers.

U.S. stock markets displayed a subdued downturn in major indices. At 2:40 PM (ET), the S&P 500 stood at 5,073.97, marking a decrease of 0.96%, while the Nasdaq 100 reported a more pronounced decline, resting at 17,718.99, down by 1.58%. Meanwhile, the Dow 30 exhibited a modest dip, settling at 37,783.82, reflecting a decrease of 0.53%.

NVIDIA Corporation (NVDA) trading at $871.03, experiencing a slight decline of 1.23%, while Tesla, Inc. (TSLA) saw a more significant drop of 4.68% at $163.05 per share. Apple Inc. (AAPL) also experienced a decrease, trading at $173.51, down by 1.72%, while Advanced Micro Devices, Inc. (AMD) and, Inc. (AMZN) recorded decreases of 1.40% and 1.08%, respectively, with prices of $160.99 and $184.12. Microsoft Corporation (MSFT) is trading at $415.41, down by 1.54%.

Meanwhile, among the stock gainers, Kaival Brands Innovations Group, Inc. (KAVL) surged impressively by 142.32% at $6.47. Longeveron Inc. (LGVN) followed suit, experiencing a notable increase of 56.80%, with the price of $2.65. Connexa Sports Technologies Inc. (YYAI) saw a gain of 40.00%, trading at $2.1000, and Destiny Tech100 Inc. (DXYZ) also showed significant increases of 33.07% at $38.59.

However, some stocks saw a significant decline, including Swvl Holdings Corp (SWVL), which decreased 34.74% to $8.66 per share. Stronghold Digital Mining, Inc. (SDIG) and Cazoo Group Ltd (CZOO) experienced decreases of 28.10% and 24.90%, respectively, with trading prices of $2.27 and $7.30. Infobird Co., Ltd (IFBD) also recorded a decline of 21.94% at $3.70.

In the energy futures market, crude oil futures were at 85.45 USD, experiencing a slight decline of 0.25%. Similarly, Brent crude futures stood at 90.13 USD, down by 0.35%. Henry Hub natural gas futures reflected a significant drop, currently at 1.691 USD, marking a decrease of 4.46%. RBOB gasoline futures were at 2.7588 USD, showing a decline of 1.57%. However, gold futures were slightly on the rise, priced at 2,384.9 USD, up by 0.45%.

In currency markets, the Euro to US Dollar (EUR/USD) exchange rate stood at 1.06288, indicating a slight decrease of 0.09% for the US Dollar against the Euro. Conversely, the US Dollar to Japanese Yen (USD/JPY) rate was 154.221, reflecting a gain of 0.64% for the US Dollar against the Yen. Meanwhile, the Australian Dollar to US Dollar (AUD/USD) rate sat at 0.64466, marking a decrease of 0.25% for the US Dollar against the Australian Dollar. In currency indices, the US Dollar Index (DXY) was at 106.179, showing a modest rise of 0.16%, while the Euro Index (EXY) was at 106.28, depicting a marginal decline of 0.15%. The Japanese Yen Index (JXY) stood at 64.85, signaling a decrease of 0.61%.

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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