Down on Wall Street Despite Positive Statistics

» Updated: July 16 2024

» Published: July 11 2024

Down on Wall Street Despite Positive Statistics
Photo: Matthias Schrader/AP/TT

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Despite the fact that four-fifths of the shares on Wall Street increased in value on Thursday, two of the three leading indices on the American stock exchange fell. The reason was declines in some of the IT giants, which together represent a large part of the stock exchange's total value.

Among the losers were iPhone manufacturer Apple, down 2.3 percent, software giant Microsoft, minus 2.5 percent, and semiconductor company Nvidia, which fell 5.6 percent.

The tech-heavy Nasdaq composite index fell 2.0 percent, the broad S&P 500 index declined 0.9 percent, and the Dow Jones industrial index increased 0.1 percent.

The fact that the majority of shares still rose can be explained by an inflation report, which showed that price increases in the USA slowed down somewhat in June compared to the previous month.

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

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