Nasdaq, S&P 500 fall as AI caution weighs on tech, Nvidia results in focus
By Sinéad Carew and Johann M Cherian
Mon February 24, 2025 4:38 PM
Thankfully, the Great Selloff, except for the Nasdaq did not continue into Day 3. The Dow was up some 270 points as late as 2 pm. But volatility is still very much in play. Tech is still feeling the trauma of both DeepSeek and the rate cut path as well as the tug of war between slowing growth and inflation. Which will create the bigger problem? The rest of the market continues to digest the Walmart scare with investors anxiously awaiting Friday’s CPE.
Wednesday brings the Nvidia report and how the heat from DeepSeek is impacting their earnings, which have exceeded estimates for two years but the margins are slimming. Once again, the indexes were up and down since the reasons for optimism and pessimism are about equal. The key question – should we take profits now or wait some more? At 15.32 billion, volume was almost equal to the 15.34 average.
DJ: 43,428.02 -748.63 NAS: 19,524.01
-438.36 S&P: 6,013.13
-104.39 2/21
DJ: 43,461.21 +33.19 NAS: 19,286.93
-237.08 S&P: 5,983.25
-29.88 2/24
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