Home HomeSwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Red on Wall Street – Nvidia crashes

Wall Street fell sharply on Tuesday, with declines in several sectors. Among the major losers was Nvidia, which fell almost 10 percent.

» Published: 03 September 2024

Red on Wall Street – Nvidia crashes
Photo: Peter Morgan/AP/TT

The Dow Jones industrial average fell 1.5 percent, while the Nasdaq composite index dropped 3.3 percent. The broad S&P 500 index sank 2.1 percent.

On Tuesday, new figures showed that the American manufacturing industry is performing slightly worse than expected. The purchasing managers' index for August, which is usually a business cycle indicator, came in slightly lower than the average forecast economists had set for the month.

The technology sector had a particularly tough day on Tuesday. Semiconductor giant Nvidia, which only saw moderate declines when it published its quarterly report last week, is now falling sharply. The stock dropped 9.5 percent during the day.

Processor giant Intel, which has been struggling in recent months, also had a blood-red day on the stock exchange. The company fell 8.8 percent.

Among the winners were several traditionally defensive stocks. Food company Pepsico, for example, rose 2.7 percent, while telecom giant Verizon increased 2.8 percent.

The US stock exchange was closed on Monday due to Labor Day.

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

More news

US Stock Market Falls Ahead of Presidential Election
1 MIN READ

US Stock Market Falls Ahead of Presidential Election

Tax deductions for sponsorship to be investigated
1 MIN READ

Tax deductions for sponsorship to be investigated

The Bin Can Stop Zuckerberg's Plans
1 MIN READ

The Bin Can Stop Zuckerberg's Plans

Employers: "Completely Unrealistic"
1 MIN READ

Employers: "Completely Unrealistic"

Industry Unions' Demands: 4.2 Percent Wage Increase
2 MIN READ

Industry Unions' Demands: 4.2 Percent Wage Increase

The Nordic region's second-highest tower inaugurated in Karlskrona
1 MIN READ

The Nordic region's second-highest tower inaugurated in Karlskrona

It can be much easier to buy a home
2 MIN READ

It can be much easier to buy a home

Experts: The proposal drives up housing prices
2 MIN READ

Experts: The proposal drives up housing prices

This is what assessors and the industry think about the loan proposal
2 MIN READ

This is what assessors and the industry think about the loan proposal

Norwegian HD Refuses to Take Up Dispute Against Boozt
1 MIN READ

Norwegian HD Refuses to Take Up Dispute Against Boozt

Lower taxes to attract research to Sweden
2 MIN READ

Lower taxes to attract research to Sweden

It can be so much easier to buy a home
2 MIN READ

It can be so much easier to buy a home

Increased Sales for Volvo Cars
1 MIN READ

Increased Sales for Volvo Cars

The Food Chain Gets a New CEO
1 MIN READ

The Food Chain Gets a New CEO

Strike at Boeing affects Ryanair
1 MIN READ

Strike at Boeing affects Ryanair

The proposal: Softer requirements for mortgages
3 MIN READ

The proposal: Softer requirements for mortgages

Upward trend on the Stockholm Stock Exchange
1 MIN READ

Upward trend on the Stockholm Stock Exchange

Multi-billion order to Skanska in London
1 MIN READ

Multi-billion order to Skanska in London

Pure Joy on Asian Exchanges
1 MIN READ

Pure Joy on Asian Exchanges

Industry Unions Demand Higher Real Wages
1 MIN READ

Industry Unions Demand Higher Real Wages