After the worst session for the S&P 500 and Nasdaq Composite since 2022, Wall Street tried to rally, but stocks stumbled on Thursday.
In response to IBM’s rally, the Dow Jones Industrial Average beat expectations, rising 350 points, or 0.5%. The 30-stock index rose almost 500 points earlier in the day. In contrast to the Nasdaq, which fell 0.1%, the S&P 500 returned 0.1%.
Due to investors’ ongoing shift towards small companies, the Russell 2000 increased 1.9%. For a second day in a row, investors kept selling off some of the most successful tech names of 2024.
Megacap companies Meta Platforms, Microsoft, and Alphabet all saw losses of roughly 1%, while Advanced Micro Devices saw a 2% decline.
Source (CNBC)
