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HomeMarket NewsUS Stock Market Highlights: Dow drops 400 points on earnings, inflation woes; Nvidia lifts Nasdaq to record close
US Stock Market Highlights: The Dow Jones Industrial Average dropped 436 points, or 0.98%, on Tuesday (July 16) as concerns over US inflation and mixed earnings from major banks weighed on investor sentiment. The S&P 500 slipped 0.4% after briefly touching a new record high earlier in the session. In contrast, the Nasdaq Composite edged up 0.18%, supported by a 4% gain in Nvidia shares after the company said it expects to “soon” resume H20 GPU deliveries to China.
US Stock Market Highlights: The Dow Jones Industrial Average dropped 436 points, or 0.98%, on Tuesday (July 16) as concerns over US inflation and mixed earnings from major banks weighed on investor sentiment. The S&P 500 slipped 0.4% after briefly touching a new record high earlier in the session. In contrast, the Nasdaq Composite edged up 0.18%, supported by a 4% gain in Nvidia shares after the company said it expects to “soon” resume H20 GPU deliveries to China. June inflation data released Tuesday represented an increase from May levels, despite the headline numbers matching expectations. The consumer price index increased 0.3% on the month, putting the annual inflation rate at 2.7%, matching a consensus poll from Dow Jones. So-called core CPI, which excludes food and energy prices, grew 0.2% month over month, slightly less than expected. Year over year, it expanded by 2.9%, matching estimates.
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