Closing changes in the main North American markets:
- S&P 500 -1.45%
- Nasdaq Comp -3.1%
- Russell 2000 -1.2%
- DJIA +0.6%
- Toronto TSX -0.7%
The headlines here don’t begin to tell the story as Nvidia’s 17% decline was the largest market cap wipeout in history, doubling the previous record.
There was broad pain in other chipmakers and power producers. High-flying Vistra was hit even worse with a 28% decline.
Despite that, far more stocks were up on the day than down as the market found many winners in a future where AI is cheaper and more-widely available. It’s just that the Mag7 is such a big part of the index.
source: TradingView