Wall Street faces a continuation of last week's trend during Monday's morning trading, with semiconductor stocks selling off heavily and dragging down the tech sector, while the broader market remains largely unaffected.
Nvidia Corp. (NASDAQ:NVDA) fell over 4%, entering correction territory after dropping more than 14% from last week's all-time highs.
SEC filings on insider activity reveal that Nvidia's CEO Jen Huang sold more than $100 million worth of shares between June 13 and June 21, 2024, marking his first sale since December 2021.
The VanEck Semiconductor ETF (NYSE:SMH) fell over 2%, extending last week's declines.
Alongside Nvidia, Marvell Technology Inc. (NASDAQ:MRVL) and Microchip Technology Inc. (NASDAQ:MCHP) were notable laggards, dropping 9.6% and 8.3%, respectively.
While the Nasdaq 100 eyes its third consecutive negative session, other major indices posted gains: the S&P 500 rose 0.3%, the Russell 2000 gained 0.8%, and the Dow Jones Industrial Average rallied 0.9%, potentially marking its strongest session since late May.
Treasury yields remained steady, the U.S. dollar fell 0.3%, gold prices increased 0.4% and energy-related commodities saw gains, with crude and natural gas up approximately 1% and 2%, respectively.
Bitcoin (CRYPTO: BTC) fell over 4% to $60,400, heading for its seventh negative session in the last eight, as the broader cryptocurrency market's momentum remains fragile.
Monday's Performance In Major US Indices, ETFs
Major Indices
Price
1-day %chg
Dow Jones
39,496.67
0.9%
Russell 2000
2,032.89
0.8%
S&P 500
5,482.39
0.3%
Nasdaq 100
19,629.54
-0.4%
Updated at 12:39 p.m. ET
According to Benzinga Pro data:
The SPDR S&P 500 ETF Trust (NYSE:SPY) was 0.2% higher to $545.59.
The SPDR Dow Jones Industrial Average (NYSE:DIA) was 0.9% higher to $394.65.
The tech-heavy Invesco QQQ Trust (ARCA: QQQ) was 0.6% lower to $477.21.
Sector-wise, the EnergySelect Sector SPDR Fund (NYSE:XLE) outperformed, up by 1.5%, while the Technology Select Sector SPDR Fund (NYSE:XLK) lagged, falling 1.6%.
Monday's Stock Movers
Energy giants ConocoPhillips (NYSE:COP) and Exxon Mobil Corp. (NYSE:XOM) rallied nearly 3% in reaction to energy commodity gains.
Qualcomm Inc. (NASDAQ:QCOM) fell over 3%, extending last week's declines initiated by reports that artificial intelligence laptops powered by its Snapdragon processor had trouble running certain applications.
Crypto-linked stocks such as Coinbase Global Inc. (NASDAQ:COIN), CleanSpark Inc. (NASDAQ:CLSK), and Marathon Digital Holdings Inc. (NASDAQ:MARA) fell 7%, 6% and 4%, respectively. Bitcoin-tied Super Micro Computer Inc. (NASDAQ:SMCI) tumbled 7.8%.
ResMed Inc. (NYSE:RMD) plummeted over 11%, after it received a downgrade from Buy to Neutral by Citigroup.
Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY) surged over 30% after its investigational therapy vutrisiran for treating ATTR amyloidosis with cardiomyopathy met both its primary and secondary endpoints in a late-stage study.
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Coinbase Global Inc.（NASDAQ：COIN）、CleanSpark Inc.（NASDAQ：CLSK）、Marathon Digital Holdings Inc.（NASDAQ：MARA）などの仮想通貨関連株は、それぞれ7%、6%、4%下落しました。ビットコイン関連のSuper Micro Computer Inc.（NASDAQ：SMCI）は7.8%下落しました。
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オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会（ASIC）の管理を受けております（AFSL No. 224663）。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
