Nasdaq Moves Sharply Lower But Dow Posts Modest Gain
24 Fevereiro 2025 - 6:44PM
IH Market News
Following the significant pullback seen during last Thursday and
Friday’s session, stocks saw considerable volatility over the
course of the trading day on Monday. The major averages showed wild
swings back and forth across the unchanged line as the day
progressed.
The Nasdaq and the S&P 500 eventually ended the day firmly
in negative territory, but the narrower Dow posted a modest
gain.
While the Dow inched up 33.19 points or 0.1 percent to
43,461.21, the S&P 500 (SPI:SP500) fell 29.88 points or 0.5
percent to 5,983.25 and the Nasdaq tumbled 237.08 points or 1.2
percent to 19,286.92.
The Nasdaq and the S&P 500 ended the day firmly in the red
after President Donald Trump said previously delayed tariffs on
Canada and Mexico are “going forward on time.”
Claiming the U.S. has “been taken advantage of” on “just about
everything,” Trump said, “The tariffs will go forward… and we’re
going to make up a lot of territory.”
The volatility on Wall Street also came as traders looked ahead
to the release of earnings news from Nvidia (NASDAQ:NVDA).
The AI darling and market leader is scheduled to release its
fourth quarter results after the close of trading on Wednesday.
A lack of major U.S. economic data may also have contributed to
the choppy trading ahead of the release of the Federal Reserve’s
preferred readings on consumer price inflation on Friday.
Sector News
Semiconductor stocks moved sharply lower over the course of the
session, resulting in a 3.0 percent nosedive by the Philadelphia
Semiconductor Index.
Computer hardware, networking and software stocks also saw
considerable weakness, contributing to the steep drop by the
tech-heavy Nasdaq.
Retail stocks also showed a notable move to the downside, while
significant strength was visible among pharmaceutical stocks.
Other Markets
In overseas trading, stock markets across the Asia-Pacific
region moved mostly lower on Monday, with the Japanese markets
closed in observance of the emperor’s birthday. Hong Kong’s Hang
Seng Index slid by 0.6 percent, while China’s Shanghai Composite
Index dipped by 0.2 percent.
Meanwhile, the major European markets turned in a mixed
performance on the day. While the German DAX Index climbed by 0.6
percent, the U.K.’s FTSE 100 Index closed just below the unchanged
line and the French CAC 40 Index fell by 0.8 percent.
In the bond market, treasuries moved higher, extending the
strong upward move seen over the two previous sessions.
Subsequently, the yield on the benchmark ten-year note, which moves
opposite of its price, fell 2.7 basis points to a two-month closing
low of 4.393 percent.
Looking Ahead
Trading on Tuesday may be impacted by reaction to the Conference
Board’s report on consumer confidence in the month of February.
SOURCE: RTTNEWS
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