Stock market news today: Nasdaq slips as tech rout continues

Tech stocks failed to make a comeback on Thursday following the Nasdaq's worst day since 2022, even as chip manufacturer

posted better-than-expected results. The tech-heavy Nasdaq Composite erased earlier gains to fall over 1%, while the S&P 500 also fell 0.7%. The Dow Jones Industrial Average slipped 0.4% following an all-time closing record for the blue-chip index in the prior session. The rally on Wall Street has hit increasing turbulence this week as political, geopolitical, and trade risks unsettle a market finally confident that the Fed will cut interest rates this year.

, and ASML all got hammered amid a rotation from tech leaders into less prominent parts of the market. All three were down further on Thursday. 's strong quarterly earnings temporarily helped lift the mood during the session. The Taiwanese chip giant beat on profit with a 36% jump, and it raised its 2024 sales outlook to signal confidence in the AI boom. Netflix is the highlight on Thursday's earnings docket, due after the market close. Expectations are high for the streamer, though some on Wall Street note the stock is already flirting with record levels.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: S&P 500, Nasdaq fall from records amid tech sell-offJerome Powell steps up for part two of his policy update to Congress, with investors on the alert for more clues to rate-cut prospects.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market news today: Nasdaq futures dig out of tech rout as TSMC shinesTechs reached for a comeback from the Nasdaq's worst day since 2022, in an increasingly volatile week for Wall Street.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: S&P 500, Nasdaq hover near records as Nvidia becomes most valuable stockTechs are continuing to lead an AI-driven rally that investors simply can't afford to miss out on.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Stock futures steady as S&P 500, Nasdaq try to build on recordsA consequential week that could provide key signals for the near-term path of interest rates.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: S&P 500, Nasdaq set to jump as Nvidia surge continuesNvidia's record-breaking surge, which catapulted it to the title of world's most valuable public company, was set to continue.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: S&P 500, Nasdaq jump as Nvidia surge continuesNvidia's record-breaking surge, which catapulted it to the title of world's most valuable public company, was set to continue.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »