Defining the News
Nvidia CEO Jensen Huang speaks during Computex 2024 in Taipei on June 4, 2024. The torrid rally in Nvidia and other artificial intelligence-linked equities took a pause June 20, 2024, leaving the tech-centered Nasdaq lower following seven straight records. Both the Nasdaq and the S&P 500 retreated from records, while the Dow pushed higher following an up session on European bourses.
The broad-based S&P 500, which has also scored multiple records in recent weeks, declined 0.3 percent to 5,473.17, while the Dow Jones Industrial Average climbed 0.8 percent to 39,134.76.The surge in Nvidia and other chip companies, along with tech giants like Apple and Microsoft that are players in AI, has lifted stocks in 2024, offsetting disappointment at the Federal Reserve’s delaying of interest rate cuts.
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