Dow Surges as Nvidia Decline Weighs on Nasdaq in Today's Stock Market Update
Money | June 24, 2024, 2:23 p.m.
US stocks showed a mixed performance on Monday, with the S&P 500 and Nasdaq falling due to Nvidia's continued slide, dragging the tech-heavy index down over 1%. In contrast, the Dow Jones Industrial Average jumped over 200 points as investors shifted to the energy and financial sectors.
Despite a strong quarter so far, concerns over Nvidia's performance and signs of market fatigue have emerged. The upcoming US presidential debate, economic data releases, and focus on inflation may add to the market's volatility this week. Additionally, Apple faces regulatory challenges in the EU and the US, while oil prices surge amid escalating tensions abroad.
Investors are also questioning Nvidia's high valuation compared to other tech giants, raising concerns about potential overvaluation. The market remains uncertain as it navigates through economic data, regulatory issues, and geopolitical tensions.