Nasdaq Turns Negative While Dow Tumbles 1.5%. Nvidia Down 3.5%; SMCI Down 2.7%; AMD, Amazon, Meta Tesla, Microsoft Down Within 1%

Tiger Newspress
17 Apr

Wall street indexes fell on Thursday, the last trading day of the week, as traders tried to recover some of the steep losses suffered in the previous session.

Dow Jones Industrial Average tumbled 582 points, or 1.47%, driven by an 18% decline in UnitedHealth following an earnings miss.

Eli Lilly, on the other hand, jumped 14% after delivering positive trial results for a weight-loss pill. U.S.-listed shares of Taiwan Semiconductor popped 3% on a strong quarterly financial report.

Chipmaking giant Nvidia retreated 3.5% on Thursday, building on its drop of nearly 7% in the previous session. The artificial intelligence darling disclosed a quarterly charge of about $5.5 billion tied to exporting its H20 graphics processing units, or GPUs, to China and other destinations due to U.S. export controls.

SMCI down 2.7%; AMD, Amazon, Meta Tesla, Microsoft down less than 1%.

Stocks also took a hit on Wednesday after Federal Reserve Chair Jerome Powell said Trump’s levies could drive up inflation in the near term and are “likely to move us further away from our goals.” Powell said the central bank may find itself in a “challenging scenario” in which its dual-mandate goals — to achieve maximum employment and stable prices — are in tension.

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