US stocks close lower as Nvidia drop outweighs energy gains
Nvidia shares fell 4.3% after plunging nearly 12% earlier, with retail investors snapping up a record US$111 million worth of shares in the first 30 minutes of trading.
On Thursday, US stocks experienced a decline as Nvidia's share price dropped 4.3% following CEO Jensen Huang's exit from the company. Despite Nvidia's stock falling to its lowest level in the day, retail investors purchased shares worth around US$111 million in the first half-hour of trading, marking the largest opening bid in the stock's history.
The S&P 500 energy index, however, saw a 1.5% rise, its fourth consecutive session of gains, driven by crude prices increasing after President Donald Trump posted on social media about the US not needing a deal with Iran. Despite Nvidia's competitors such as Broadcom, Advanced Micro Devices, and Alphabet gaining ground, the chip company's decline outweighed the gains in energy shares.
Nvidia's competitors also experienced positive movements, contributing significantly to the S&P 500's gain. Investors are currently concerned about potential AI regulation, prompting a shift in trading patterns towards safer investments.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 3 other outlets
- US stocks: Equities close lower as Nvidia drop outweighs energy gains businesstimes.com.sg
- Wall St down as Nvidia drop outweighs energy gains news.rthk.hk
- US stocks: US market closes lower as Nvidia slide outweighs energy rally economictimes.indiatimes.com
