Home HomeSwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Another Dark Day on Wall Street

The New York stock exchange continued on the downward - blood-red - path on Monday, following last week's market anxiety. Among the day's biggest losers were technology giants Nvidia and Apple.

» Updated: 06 August 2024, 03:09

» Published: 05 August 2024

Another Dark Day on Wall Street
Photo: Richard Drew/AP/TT

The New York stock exchange plummeted significantly at the opening, and at times Nasdaq nosedived to around minus 6 percent. During the day, the indexes recovered somewhat, but still closed a good way below zero.

The industrial index Dow Jones ended the trading day at minus 2.6 percent, while the broad S&P 500 closed at minus 3.0 percent. According to CNBC, Monday was the worst trading day for the two indexes since 2022. At the same time, Nasdaq's composite index fell by 3.4 percent.

The large American technology companies, sometimes called the "magnificent seven", have made significant investments in artificial intelligence and have in several cases seen their shares reach historic highs this summer. The recent days' gains have essentially been erased.

The list of today's losers can be made long. For example, semiconductor giant Nvidia fell by 6.4 percent. At the same time, Apple fell by 4.8 percent and Microsoft by 3.3 percent.

One technology company that went against the trend was processor manufacturer AMD, which increased by 1.8 percent on Monday. Kellanova, which among other things owns the chip brand Pringles, surged by 16.2 percent following rumors of a takeover.

Monday's turbulence is a continuation of last week's downturns, and even several normally defensive stocks have been dragged into the stock market fall, such as food giant Pepsico, minus 2.3 percent, and pharmaceutical company Johnson & Johnson, minus 1.8 percent.

Tags
TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Inflation upswing does not threaten interest rate cuts
3 MIN READ

Inflation upswing does not threaten interest rate cuts

Calm opening expected on the stock exchange
1 MIN READ

Calm opening expected on the stock exchange

Most up on Asian stock exchanges
1 MIN READ

Most up on Asian stock exchanges

This is how your wallet can be affected by Trump's victory
2 MIN READ

This is how your wallet can be affected by Trump's victory

Cheerful on Wall Street after Trump win
1 MIN READ

Cheerful on Wall Street after Trump win

Thousand-kronor notes to be picked up when the Central Bank increases the pace
3 MIN READ

Thousand-kronor notes to be picked up when the Central Bank increases the pace

Swish up and running again after disruption
1 MIN READ

Swish up and running again after disruption

Trump's company is soaring on the stock exchange
1 MIN READ

Trump's company is soaring on the stock exchange

Swedish Export Threatened by Trump Victory
2 MIN READ

Swedish Export Threatened by Trump Victory

Sameby's appeal against mining company rejected
1 MIN READ

Sameby's appeal against mining company rejected

Inflation Expectations Fall
1 MIN READ

Inflation Expectations Fall

Better than expected for Novo Nordisk
1 MIN READ

Better than expected for Novo Nordisk

No "Trump Effect" on the Stockholm Stock Exchange
1 MIN READ

No "Trump Effect" on the Stockholm Stock Exchange

Stock Market Euphoria as Trump Heads for Victory
2 MIN READ

Stock Market Euphoria as Trump Heads for Victory

Rush on the Tokyo Stock Exchange after the election night
1 MIN READ

Rush on the Tokyo Stock Exchange after the election night

Bitcoin hits new record
1 MIN READ

Bitcoin hits new record

Upward trend on the New York Stock Exchange
1 MIN READ

Upward trend on the New York Stock Exchange

Colombia Buys Jas Gripen
2 MIN READ

Colombia Buys Jas Gripen

Now more wind power on land is required
2 MIN READ

Now more wind power on land is required

High Pressure Causes Electricity Prices to Soar
1 MIN READ

High Pressure Causes Electricity Prices to Soar