At 4:06 PM Eastern Time, U.S. stock indexes predominantly declined amid concerns over prolonged high interest rates and escalating geopolitical tensions. An Israeli strike targeting Iran overnight compounded market anxieties.
Super Micro experienced a significant setback, witnessing a 23% decline after failing to deliver an anticipated positive update ahead of its official results. Similarly, NVIDIA recorded a 10% drop, marking the first time since February that its market capitalization fell below $2 trillion. This decline contributed to a broader decline among the “Magnificent Seven” technology stocks, leading to a collective loss of market value throughout the week.
The Nasdaq Composite Index saw a 5.5% decline over the week, while the S&P 500 lost 3%. Meanwhile, the Dow Jones Industrial Average remained relatively flat amidst the turbulence.
