On Wednesday, the S&P 500 declined from its previous record high as Nvidia’s impressive rally eased off. The broad market index closed at 5,165.31, down by 0.19%, while the Nasdaq Composite also decreased by 0.54% to 16,177.77. Contrarily, the Dow Jones Industrial Average saw a slight uptick of 0.1%, adding 37.83 points to close at 39,043.32.
Nvidia experienced a 1.1% drop in its share price, with Meta Platforms and Apple following suit with 0.8% and 1.2% declines, respectively. The VanEck Semiconductor ETF (SMH) recorded a slide of approximately 2%, marking its third decline in the last four sessions. Additionally, the information technology sector also observed a 1.1% decrease.
Tuesday’s trading session was positive for Wall Street, as both the S&P 500 and Nasdaq surged by over 1%. This was fueled by February’s U.S. inflation data, which aligned closely with expectations. Although core inflation, excluding food and energy costs, rose more than anticipated last month, investors responded favorably.
Source (CNBC)
