S&P 500 Down Today, Nvidia Stock Falls Again
The S&P 500 and Nasdaq experienced a bearish reversal after reaching new highs today and have subsequently fallen to fresh lows. The broader US market indexes have moved into negative territory, hitting two new session lows. The S&P 500 is down 6 points, or 0.13%, to 5,465, while the Nasdaq has dropped 133 points, or 0.74%. Notable tech stocks, including Nvidia, Apple, and Microsoft, are all down for the day.
S&P 500 Chart Daily – Within Touch of 5,500
Nvidia shares have declined by $2.25, or 1.60%, to $134. Apple shares are down by $4.50, or 2%, to $210. Microsoft shares have fallen by $2.49, or 0.56%, to $443.87. This pullback in major tech stocks is noteworthy given their significant weight in the broader indexes. Despite today’s decline, the Nasdaq index had previously closed higher for seven consecutive days, each day setting a new record high.
Nvidia Chart Daily – The Retreat Resumes Today
Similarly, the S&P500 index closed at a record high last Friday, underscoring the recent strength in the market. The key question now is whether today’s lower close, after reaching new all-time highs and trading outside of Tuesday’s range, indicates the start of a corrective move to the downside. Market corrections often begin with a lower close following a peak, signaling a potential shift in momentum. With the Nasdaq having surged 18% from its swing low at mid April to its recent high, the index may be due for a correction to consolidate gains and establish a more sustainable trajectory.
S&P 500 Live Chart
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