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<US Mkt>DJIA Closes Down 324 pts, Led by Chip Stocks as NVIDIA Craters ~5%, Denting Nasdaq
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Investors focused on the latest corporate quarterly results. Chip stocks fell as the outlook for the sector deteriorated. The DJIA dropped from its all-time high on Tuesday, and slid 324 points or 0.8% to close at 42,740. The S&P 500 ebbed 44 points or 0.8% to 5,815. The Nasdaq lost 187 points or 1% to close at 18,315. ASML (ASML.US) plummeted 16% at close as its CEO warned customers to be cautious, and said that the recovery is slower than expected, while NVIDIA Corporation (NVDA.US) and AMD (AMD.US) cascaded 4.7% and 5.2% each. VanEck Semiconductor ETF (SMH.US) tumbled 5.4%, being its worst single day performance since 3 September. For other performance stocks, Bank of America Corporation (BAC.US) added 0.6% against the market as its 3Q24 earnings beat Wall Street's estimations, while Goldman Sachs Group, Inc. (GS.US) was flat on better-than-expected quarterly results. Johnson & Johnson (JNJ.US) climbed 1.6% after last quarter's results beat forecasts on strong sales of oncology drugs. The company also raised its financial guidance for profit and sales for the whole 2024. UnitedHealth Group Incorporated (UNH.US) dipped over 8% after the company lowered its full-year earnings forecast. AAStocks Financial News |
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