The market leader Nvidia’s shares fell for a second day on Friday, which caused the S&P 500 to slightly decline.
A 0.2% decline was seen in the Nasdaq Composite and the broad market index. With just 11 points less, the Dow Jones Industrial Average decreased.
Emily Roland, co-chief investment strategist at John Hancock Investment Management, stated that technology companies are still popular. “It’s been a major factor in driving the market action lately, and I can’t recall a period when one single stock… has been so influential on the market.”
Nvidia’s stock fell 3.2%. The stock closed over 3% down on Thursday after reaching an all-time high.
The chipmaker, however, has increased its value by 155% year to date and momentarily surpassed Microsoft to become the most valuable public business on Tuesday.
Source (CNBC)
