Nvidia Surges as Tech Stocks Retreat, Gold Stocks Shine
The US stock market ended in mixed results yesterday, as tech stocks retreated and gold stocks strengthened. The Dow Jones Industrial Average rose by 0.49% to a new high of 54,349.12, while the Nasdaq Composite Index fell 0.83% to 26,363.44.
Nvidia (NVDA) was one of the few tech stocks that bucked the trend, rising by 3.43% to $219.22 and putting its market capitalization back over $5 trillion.
However, other major tech companies such as Tesla (TSLA), Amazon (AMZN), and Microsoft (MSFT) all declined in value, with Tesla falling 1.77%, Amazon sliding 1.72%, and Microsoft declining 1.09%.
The Philadelphia Semiconductor Index also fell by 1.4% to 12,008.88 points, as memory stocks such as SanDisk (SNDK) and Western Digital (WDC) declined by 5.40% and 5.36%, respectively.