Markets Slip as Oil Prices Continue to Rise Amid Geopolitical Tensions
Stock markets declined on August 11 as oil prices continued to rise. The Nasdaq Composite fell 0.60% to 26,445, while the S&P 500 slipped 0.32% to 7,728 and the Dow Jones Industrial Average lost 0.34% to 53,792.
Gold prices rose 0.18% to $4,368.79 by market close, but the 10-Year Treasury yield fell 0.02% to 4.70%. Energy and healthcare stocks led sector gainers, while real estate and technology stocks finished in the red.
Nvidia shares initially gained before finishing down 0.02%, weighed by its $500 billion financing initiative for artificial intelligence infrastructure. Entravision Communications Corp plummeted over 20% and Upwork tumbled 15% following disappointing earnings reports from both companies.
Fermi soared after TensorWave announced it would lease the Project Matador facility, Fermi's first such deal for its AI and data center campus.