How major US stock indexes fared Wednesday, 8/7/2024

Original Article:

Source: Link

Wall Street slumped after a morning rally evaporated, but the losses weren’t as bad as the manic moves that wracked markets worldwide over the last week How major US stock indexes fared Wednesday, 8/7/2024 The Associated Press By The Associated Press Wall Street slumped after a morning rally evaporated, but the losses weren’t as bad as the manic moves that wracked markets worldwide over the last week. The S & P 500 fell 0.8% Wednesday. The Dow Jones Industrial Average fell 0.6%, and the Nasdaq composite dropped 1%. Stocks swung lower as Nvidia, one of Wall Street’s most influential companies, went from a morning gain to a loss of 5.1%, making it the heaviest weight on the S & P 500. Nvidia and other Big Tech stocks have been struggling on worries their prices shot too high amid Wall Street’s frenzy around artificial-intelligence technology. On Wednesday: The S & P 500 fell 40.53 points, or 0.8%, to 5,199.50. The Dow Jones Industrial Average fell 234.21 points, or 0.6%, to 38,763.45. The Nasdaq composite fell 171.05 points, or 1%, to 16,195.81. The Russell 2000 index of smaller companies fell 29.19 points, or 1.4%, to 2,035.11. For the week: The S & P 500 is down 147.06 points, or 2.8%. The Dow is down 973.81 points, or 2.5%. The Nasdaq is down 580.36 points, or 3.5%. The Russell 2000 is down 74.20 points, or 3.5%. For the year: The S & P 500 is up 429.67 points, or 9%. The Dow is up 1,073.91 points, or 2.8%. The Nasdaq is up 1,184.45 points, or 7.9%. The Russell 2000 is up 8.04 points, or 0.4%.