Stock market today: A washout on Wall Street sends stocks, big to small, lower

The S&P 500 dropped 0.8% to pull further from its all-time high set on Tuesday. The Dow Jones Industrial Average tumbled 533 points, or 1.3%, from its own record set a day before, while the Nasdaq composite sank 0.7%.

The majority of stocks within the S&P 500 also fell after giving up gains from earlier in the day. The sharpest loss came from Domino’s Pizza, which dropped 13.6% despite topping analysts’ expectations for profit in the spring. Stocks of chip companies stabilized a bit after tumbling a day earlier amid worries about potentially worsening tensions with China. U.S.-traded shares of Taiwan Semiconductor Manufacturing Co. rose 0.4% after the industry giant reported stronger profit for the latest quarter than analysts expected. It bounced back from its loss of 8% the prior day, but only after swerving between gains and losses.

That’s what they did for a while, after all, as their stock prices rocketed amid a frenzy around artificial-intelligence technology, even as other stocks struggled under the weight of higher interest rates and slowing economic growth. The momentum kicked into a high gear after an encouraging report on inflation raised expectations for the Federal Reserve to begin easing interest rates in September. Lower rates and a solid U.S. economy could mean bigger benefits for smaller companies than for Big Tech giants, which rose almost regardless of such factors.

A separate report said manufacturing in the mid-Atlantic region is growing much better than economists thought.Wall Street is hoping the economy can remain in a “Goldilocks” state, where it’s not so hot that it puts upward pressure on inflation but not so cold that it slides into a recession.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Stock market today: Asian shares lower after Wall Street closes another winning weekHONG KONG (AP) — Asian shares were mostly lower Monday after U.S. stocks coasted to the close of their latest winning week on Friday, even as Nvidia ’s stock...
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »

Stock market today: Trade worries hit technology stocks, pulling Wall Street lowerNEW YORK (AP) — Wall Street’s record-setting rally ran into a wall as worries about worsening trade tensions with China slammed some of the market’s biggest winners of the year. The S&P 500 was 0.
La source: SooToday - 🏆 8. / 85 Lire la suite »

Stock market today: Trade worries hit technology stocks, pulling Wall Street lowerNEW YORK (AP) — Wall Street’s record-setting rally ran into a wall as worries about worsening trade tensions with China slammed some of the market’s biggest winners of the year. The S&P 500 was 0.
La source: SooToday - 🏆 8. / 85 Lire la suite »

Stock market today: Wall Street hits records as a slowing economy boosts hopes for lower ratesNEW YORK (AP) — Wall Street’s record-breaking rally kept going after weak reports on the economy kept the door open for possible cuts to interest rates. The S&P 500 rose 0.5% Wednesday to set an all-time high for the 33rd time this year.
La source: SooToday - 🏆 8. / 85 Lire la suite »

Stock market today: Wall Street opens higher after inflation continues to easeNEW YORK (AP) — Stocks are edging higher in early trading on Wall Street and are heading for their fourth weekly gain in a row.
La source: SooToday - 🏆 8. / 85 Lire la suite »

Stock market today: Wall Street inches higher ahead of inflation reportStocks inched higher on Wall Street as markets wait for a key report on inflation. The S&P 500 edged up 0.1% Thursday. The Nasdaq composite added 0.3%, and the Dow Jones Industrial Average rose 0.1%.
La source: SooToday - 🏆 8. / 85 Lire la suite »