Nvidia, Wall Street and stock decline
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Dow Jones, S&P 500, and Nasdaq fell as US producer price data fueled inflation worries. Nvidia, Amazon, Salesforce, and Zscaler led tech sector losses.
S&P 500 futures are up 0.1%. Dow Jones Industrial Average futures are climbing 0.1%. Nasdaq 100 futures are adding 0.2%. On Tuesday, the Dow Jones Industrial Average rose 370 points, or 0.76%, to 49,174.
Major stock indexes plummeted Friday after a wholesale inflation reading came in hotter than expected, while Nvidia shares fell further after sinking yesterday.
U.S. stocks rose and erased their losses for the week so far, as Nvidia and other technology companies led the way.
At 10:11 a.m. ET, the Dow Jones Industrial Average rose 0.25%, the S&P 500 lost 0.37%, the Nasdaq Composite fell 0.87%
The Dow was back to breakeven on Thursday as the index looked to overcome Nvidia’s sharp decline after earnings. The blue-chip index was flat. Nvidia, down 5.3% after earnings, shaved off 64 points from the Dow.
Investors worry about Big Tech valuations being inflated relative to what they’re actually worth, says strategist