The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

World News

Stocks fall as comeback rally falters; Dow lower by 100 points

by admin August 9, 2024
August 9, 2024
Stocks fall as comeback rally falters; Dow lower by 100 points

Stocks slipped into the red as markets closed Wednesday, losing gains from earlier in the day as Wall Street failed to recoup losses from Monday’s massive sell-off.

The Dow Jones Industrial Average fell 163 points, or 0.4%. The S&P 500 declined 0.5%, while the Nasdaq Composite dropped 0.7%.

Earlier in Wednesday’s trading session, the Dow rallied more than 300 points. The broad S&P 500 and the tech-heavy Nasdaq were also higher on the day before turning negative.

A rollover in Nvidia and other big technology stocks following an early jump led to the major averages rolling over in the afternoon. Nvidia pulled back 3.5%, while shares of Super Micro Computer tumbled more than 20% after the server company’s fiscal fourth-quarter earnings missed analyst estimates. Tesla also lost 3.4% and Meta Platforms shed 0.2%.

The benchmark 10-year Treasury yield continued its climb and rose 5 basis points to 3.94%. This marked a return to its level prior to the weak jobs numbers on Friday that raised concerns of an economic downturn.

The Cboe Volatility Index, known as Wall Street’s “fear gauge,” was last trading at 28.3 after falling to as low as 22 earlier on Wednesday. The sharp decline from near 65 on Monday indicates investors’ fears are abating, but still remain elevated from their initial levels at the start of the month.

“There’s been some reassurance over the last couple days that things have calmed down a bit. But there are still quite a few unknowns on the horizon, such as how much more unwind there is on the yen carry trade, as well as geopolitical headwinds,” said Charlie Ripley, senior investment strategist at Allianz Investment Management.

On Tuesday, the S&P 500 and the Nasdaq each advanced 1%, while the 30-stock Dow added nearly 300 points on Tuesday. On Monday, the Dow and the broad-market S&P 500 posted their worst session since 2022, fueled by recession worries and the unwinding of the yen carry trade.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Why ‘wardrobing’ retail fraud soars in the summer
next post
Google’s antitrust ruling has experts looking to 25-year-old Microsoft case for answers

Related Posts

Prebiotic soda brand Olipop valued at $1.85 billion...

February 13, 2025

Walmart-backed fintech One introduces buy now, pay later...

April 25, 2024

Jaguar reveals glossy rebrand that features no cars...

November 21, 2024

Oil prices rise more than 1% as Israel...

June 21, 2025

Honda and Nissan officially begin merger talks to...

December 24, 2024

Walmart-linked Green Dot Bank receives proposed Federal Reserve...

March 5, 2024

Howard Schultz says he ‘did a cartwheel’ when...

June 13, 2025

Major maritime strike could threaten ports across the...

September 22, 2024

McDonald’s preparing a 2025 ‘McValue’ offering

November 22, 2024

Gold prices hit another record high after fresh...

April 4, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • The Real Drivers of This Market: AI, Semis & Robotics

      August 31, 2025
    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

      August 31, 2025
    • Epstein estate to hand over ‘birthday book’ to lawmakers, House Dem says

      August 31, 2025
    • Dyan Cannon denied White House entry after lying about her age on passport documents

      August 31, 2025
    • Israel eliminates Houthi prime minister in Yemen airstrike targeting senior government officials

      August 31, 2025
    • Sen. Bernie Sanders calls on RFK Jr. to resign following departure of CDC officials

      August 31, 2025

    Categories

    • Business (1,370)
    • Politics (4,370)
    • Stocks (1,619)
    • Uncategorized (45)
    • World News (1,363)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thetraderharbor.com | All Rights Reserved