S&P 500 ends down as Nvidia tumbles following report
By Noel
Randewich and Johann M Cherian
Thu February 27, 2025 6:59 PM
There’s just a whole lot of confusion and uncertainty out there. There was a big mystery yesterday why Nvidia’s stock got such a big boost when they had not yet turned in their Q4, a report widely expected to be disappointing. And today, with the report front and center, though earnings were quite respectable they were not of the stellar nature of past quarters and years so Nvidia had a dramatic fall of 8.5% more than wiping out yesterday’s boost, and all of tech followed suit. Unemployment claims came in higher than expected which also fueled uncertainty about the world’s greatest economy beginning to sputter.
Oddly enough, the charts show that both the S&P and Nasdaq were basically flat until about 2 pm when they both dropped like a rock with rather large 3-digit losses. The Dow was very nicely in the black until 2 pm, up some 450 points in the morning and then, like the others, also plummeting to a 3-digit loss. The biggest shock for the day, that must have happened right around 2 pm, was the complete reversal from the White House, which yesterday announced that the Mexican and Canadian tariffs would be delayed until April but today saying the March 4th deadline was on again. Yes, nothing but confusion and uncertainty, the VIX reaching its highest level since December 19th. Volume came in at 15.8 billion, modestly above the 15.3 average.
DJ: 43,433.12 -188.04 NAS: 19,075.26
+48.88 S&P: 5,956.06
+0.81 2/26
DJ: 43,239.50 -193.62 NAS: 18,544.42
-530.85 S&P: 5,861.57
-94.49 2/27
Thu 2-27-25 6:59 pm S&P 500 ends down as Nvidia tumbles following report | Reuters
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