Good news about US inflation in June supported interest rate cuts, and NASDAQ and S&P 500 achieved new record highs in the early session. However, investors took profits first, and several large tech stocks receded. The three major US stock indexes developed individually on Thursday, with NASDAQ performing the worst at close.
DJIA rose 32 points or 0.1% to 39,753. S&P 500 hit an early high of 5,642, but then lost ground and ended 49 points or 0.9% lower at 5,584. NASDAQ logged a new intraday high of 18,671 early in the session and then retreated, widening its losses and closing at 18,283, plummeting 364 points or 2%, the worst among the three major stock indexes.
Technology giants spearheaded the fall, with Nvidia (NVDA.US) crumpling 5.6%, Meta (META.US) descending 4.1%, and Apple (AAPL.US) declining 2.3%. TSMC (TSM.US) plunged 3.4% after hitting a new 52-week high.
Tesla (TSLA.US) postponed the launch of its Robotaxi from August to October. The stock crashed 8.4% after 11 consecutive days of gains.
(Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)
