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Index slides on Thursday as yields rise before Powell: What's going on?
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Stocks fell Thursday as excitement around blockbuster Nvidia($NVIDIA (NVDA.US)$) results failed to boost the broader market, and investors l Show More
Stocks fell Thursday as excitement around blockbuster Nvidia($NVIDIA (NVDA.US)$) results failed to boost the broader market, and investors looked ahead to a key speech from Federal Reserve Chairman Jerome Powell. The Dow Jones Industrial Average closed 373.56 points lower, or 1.08%, at 34,099.42. The S&P 500 lost 1.35% to end the day at 4,376.31. The tech-heavy Nasdaq Composite shed 1.87% to 13,463.97.

Shares of Nvidia ended barely higher after they hit a record high early in the session. The company late Wednesday gave a much stronger-than-expected forecast amid demand for its artificial intelligence chips and said it would buy back $25 billion in stock. A rally in big tech fizzled out as bond yields rose, with traders wading through remarks from a slew of Federal Reserve officials and awaiting Jerome Powell's speech on Friday for clues on the outlook for interest rates. However, Nvidia wasn't enough to lift the broader tech sector. Shares of Amazon($Amazon (AMZN.US)$) lost 2.72%, and Apple($Apple (AAPL.US)$) declined 2.62%, while Netflix($Netflix (NFLX.US)$) shed 4.82%.

🎙️Q:
1. How do you interpret recent stock market movements?
2. What's your investment strategy?

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