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:

» Published:

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

Share this article

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

Author

TTT
By TTEnglish edition by Sweden Herald, adapted for local and international readers

More news

Nvidia and Intel Partner to Develop Computer and Data Center Chips

Nvidia and Intel Partner to Develop Computer and Data Center Chips

Bank of England Keeps Interest Rate Steady at 4.0 Percent

Bank of England Keeps Interest Rate Steady at 4.0 Percent

Novo Nordisk Shares Surge 5% After Positive Ozempic Study Results

Novo Nordisk Shares Surge 5% After Positive Ozempic Study Results

Energy Talks End Without Agreement; Government Considers Offshore Wind Support

Energy Talks End Without Agreement; Government Considers Offshore Wind Support

Norway Central Bank Reduces Interest Rate to 4.0 Percent

Norway Central Bank Reduces Interest Rate to 4.0 Percent

Stockholm Stock Exchange Rises After US Interest Rate Cut

Stockholm Stock Exchange Rises After US Interest Rate Cut

Billerud to Cut Up to 650 Jobs Amid Cost-Saving Measures

Billerud to Cut Up to 650 Jobs Amid Cost-Saving Measures

Reduced Benefits Linked to Poorer School Results and Increased Crime

Reduced Benefits Linked to Poorer School Results and Increased Crime

Swedish Companies Face Record 12-Quarter Economic Slump

Swedish Companies Face Record 12-Quarter Economic Slump

Asian Stocks Rise Following US Fed Interest Rate Cut

Asian Stocks Rise Following US Fed Interest Rate Cut

Blackstone to Invest £90 Billion in UK Projects Over Next Decade

Blackstone to Invest £90 Billion in UK Projects Over Next Decade

Wall Street Mixed as Fed Cuts Interest Rate but Signals Caution

Wall Street Mixed as Fed Cuts Interest Rate but Signals Caution

Fed Lowers Interest Rate by 0.25 Points, Signals More Cuts This Year

Fed Lowers Interest Rate by 0.25 Points, Signals More Cuts This Year

China Urges Tech Giants to Halt Nvidia AI Chip Purchases

China Urges Tech Giants to Halt Nvidia AI Chip Purchases

Jerry Greenfield Departs Ben & Jerry's, Citing Silencing by Unilever

Jerry Greenfield Departs Ben & Jerry's, Citing Silencing by Unilever

Avanza Introduces Digital Trading on London Stock Exchange

Avanza Introduces Digital Trading on London Stock Exchange

Uber Introduces Safari Tours in Kenya's Nairobi National Park

Uber Introduces Safari Tours in Kenya's Nairobi National Park

Swedish Inflation Expectations Rise Slightly in Latest Survey

Swedish Inflation Expectations Rise Slightly in Latest Survey

Sweden's Unemployment Rate Stays High in August

Sweden's Unemployment Rate Stays High in August

Stockholm Stock Exchange Sees Modest Gain Led by H&M

Stockholm Stock Exchange Sees Modest Gain Led by H&M