Highlights
Stocks fell Friday in the last trading session of the month, led by the continuation of profit taking in the world's most valuable company and AI market leader Nvidia following quarterly results that indicated strong but by some measures slowing growth. Also weighing on Nvidia shares and other semiconductor companies was news that Chinese e-commerce leader Alibaba was developing a new chip for artificial intelligence that could diminish the need for Nvidia's chips by Chinese companies. The Dow Jones industrial average edged 0.2 percent lower while the S&P 500 ended down 0.6 percent and the Nasdaq fell 1.2 percent.
Definition
Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.
Description
Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.