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S&P 500 AND NASDAQ DROOP AS TECH STOCKS WEIGH

  • NEWS Desk Global
  • Aug 26, 2024
  • 1 min read



The S&P 500 and the Nasdaq dropped in choppy trading on Monday, weighed by AI-favorite Nvidia ahead of its results later in the week, while markets awaited a key inflation report and cemented bets on an imminent interest-rate cut by the Federal Reserve.

Nvidia dropped 2.3%, leading declines among chip stocks and sending the Philadelphia SE Semiconductor index down 2.5% ahead of the chip designer's highly anticipated earnings on Wednesday. The broader Technology sector also lost over 1%.

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