Stock market today: S&P 500, Nasdaq slip from records as Nvidia dips

Two of the major stock indexes declined on Thursday after touching record highs earlier in the session. The S&P 500 briefly crossed 5,500 for the first time, as Nvidia's record-breaking surge — which catapulted it to the title of world's most valuable public company — ebbed. The S&P 500 lost around 0.2% after the index secured its 31st record close of the year on Tuesday. The tech-heavy Nasdaq Composite touched new highs earlier in the session but close down almost 0.8%.

Despite the dip, the stock is still up more than 170% so far this year. On Tuesday Nvidia completed a remarkably quick surge to temporarily usurp Microsoft as the most valuable company in the world — just two weeks after it dethroned Apple as the No. 2 most valuable company. Its rise to the top has come so fast, Yahoo Finance's Jared Blikre wrote, that some more passive investors haven't been able to keep up.

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