S&P 500 falls 0.4 percent to 7,561.67 as AI pullback caps a turbulent week on Wall Street
Briefing by News4U · First published
In this morning's News4U market wrap, RTHK Finance reported that a pullback in big AI-focused companies weighed on Wall Street on Friday, capping a turbulent week. The S&P 500 fell 0.4 percent, or 30.73 points, to 7,561.67, but posted a 2.5 percent gain for the week. The Dow Jones Industrial Average recovered from an early slide and eked out a 0.1 percent gain, or 50.46 points, to 52,347.55. The Nasdaq composite fell 0.9 percent, or 229.82 points, to 25,136.27, but notched its first weekly gain in five weeks. A day after Nvidia CEO Jensen Huang resigned, Nvidia fell 2 percent, Broadcom fell 4.8 percent and Advanced Micro Devices lost 8.8 percent; the fallout cost Nvidia's market cap more than US$600 billion this week. [1]
Sources
- US markets end lower as Nvidia casts a pall
RTHK Finance · · Excerpt