Nvidia’s (NVDA) blockbuster earnings report could only prop up the broader market for so long. Stocks took a massive step back Thursday, with the Dow shedding more than 600 points for its biggest daily-digit drop since February 2023, with all three components finishing in the red. The tech-heavy Nasdaq and S&P 500 logged substantial losses as well, pulling back from record highs as investors weighed a sharp decline in home prices with plummeting chances of multiple interest rate hikes from the Fed this year.
OIL, AND GOLD PRICES LOG MULTI-DAY LOSING STREAKS
Oil futures notched a fourth-straight loss. For the session, July-dated West Texas Intermediate (WTI) crude lost 70 cents, or 0.9%, at $76.87 a barrel.Gold prices pulled back sharply today, marking a third-straight loss as traders continued to unpack the implications of the Federal Reserve’s latest meeting minutes. For the session, June-dated gold lost $42.40, or 1.8% at $2,350.70 per ounce.More By This Author:Stocks Mixed Amid Flood Of Economic Data Stocks Slide After Fed Minutes Raise Inflation WorriesStocks Quiet Ahead Of Fed Minutes
