Stocks sway as Wall Street heads for winning week after several turbulent days
NEW YORK — Stocks swung sharply in morning trading Friday as Wall Street remains on track for its first winning week since early October. Major indexes have been unsteady throughout the week as AI-focused companies pushed and pulled the market. Many of those companies have big stock values with a heavier impact on the market's gains or losses. The S&P 500 shifted from modest moves at the opening…
Stocks experienced significant fluctuations on Friday as Wall Street appears set for its first profitable week since early October. Major indexes had been volatile throughout the week due to the performance of AI-focused companies, which have a substantial impact on market gains or losses. The S&P 500 oscillated between minor gains and losses, ultimately closing 1% lower.
However, it remains on track for a weekly increase of 1.9%. The Dow Jones Industrial Average declined by 67 points, or 0.1%, by 10:37 a.m. Eastern time. The Nasdaq composite also dropped by 1.8%. The market's instability persisted a day after the AI sector suffered a major blow following the resignation of Nvidia CEO Jensen Huang.
The tech giant, which has driven much of the recent market gains and volatility, became the focal point for concerns about national security following Huang's extramarital affair with a Chinese tech executive. In Huang's absence, Colette Kress, the company's long-serving chief financial officer, will serve as interim CEO.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
