On Thursday, the Dow Jones Industrial Average reached a new all-time high. This means that the overall value of 30 major companies listed in the index increased significantly, with the index rising by 274 points, or half a percent. At one point during the day, the Dow hit a record level of 52,805.12.
Meanwhile, the S&P 500, which tracks 500 large companies, also went up slightly by 0.4%. However, the Nasdaq Composite, which includes many technology and semiconductor companies, experienced a decline of 1.2%.
The drop in the Nasdaq was mainly caused by struggles in the semiconductor sector. Semiconductors are essential components used in many electronic devices. For the second day in a row, semiconductor stocks fell in value.
One popular ETF that tracks semiconductor companies, called VanEck Semiconductor (SMH), dropped by 5.2%. Some notable companies in this sector, like Teradyne and KLA, saw their shares fall by as much as 13%. Nvidia’s stock also declined by 2.1%, and Micron, another key player, saw its stock fall by 6%.
Source (CNBC)
