US Stock Market Sees Mixed Performance as Tech Stocks Decline
On March 8, the US stock market saw a mixed performance as the three major indexes experienced fluctuations throughout the day. The S&P 500 Index and the Nasdaq Index initially reached record highs in early trading but later fell back, with the Nasdaq Index dropping by more than 1%. At the close of the market, the Dow Jones Industrial Average was down 0.18% at 38,722.69 points, the S&P 500 Index decreased by 0.65% to 5,123.69 points, and the Nasdaq fell by 1.16% to 16,085.11 points.
The decline in the market was largely driven by a drop in large technology stocks. Nvidia experienced a significant decline of 5.55%, halting its seven consecutive gains, which marked the largest single-day decline since May 2023. Other tech giants such as Intel, Tesla, AMD, and Meta (Facebook) also saw losses, while Apple and Google managed to maintain slight gains.
On the other hand, most popular Chinese concept stocks managed to see gains, with the Nasdaq China Golden Dragon Index rising by 0.71%. Companies like Manbang, Bilibili, iQiyi, JD.com, and others experienced positive growth, while Pinduoduo, Vipshop, and Li Auto faced slight declines.
It is important to note that the information provided by Securities Times is for reference only and should not be considered as investment advice. The stock market is subject to constant fluctuations, and investors should conduct their own research and analysis before making any investment decisions.
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