Stock Market Wrap-Up: S&P 500 Slides as Nvidia Stumbles, Dow Sees Strongest Week in Months

Money | June 21, 2024, 3:53 p.m.

On Friday, the S&P 500 experienced a slight decline as Nvidia, a key player in the market, saw its shares retreat for the second consecutive day. The index finished at 5,464.62 while the Nasdaq Composite settled at 17,689.36 after a 0.18% dip. The Dow Jones Industrial Average ended the day up 0.04% at 39,150.33. Investment strategist Emily Roland highlighted the ongoing focus on technology stocks, particularly Nvidia, which has had a significant impact on recent market movements. Despite a 3.2% drop in Nvidia shares, the chipmaker still boasts a 155% year-to-date increase and briefly surpassed Microsoft in market value earlier in the week. As signs of a potentially overextended market emerge, some experts suggest that now may be a good time for investors to consider taking profits. The recent spike in trading volume, attributed to the triple witching event, may signal a turning point in market dynamics.