News

On the day the U.S. January non-farm payroll report and one-year inflation expectations were released, the S&P 500 index initially closed down 0.9%, with the consumer discretionary sector falling 2.6%, and the telecommunications, materials, and technology sectors dropping over 1%. The Nasdaq 100 index initially closed down 1.3%, with component stock Micron Technology falling 7.2%, Amazon down 4%, Tesla and Alphabet A down 3.3%, Apple down 2.3%, while NVIDIA rose 0.9% to lead the gains, Pinduoduo ADR rose 1.4%, and PANW rose 3.5%. The Dow Jones Industrial Average initially closed down over 400 points, with component stocks Nike, Amazon, Apple, Honeywell, and Boeing all falling at least 1%, showing the worst performance, while NVIDIA "led the pack." This week, the S&P has cumulatively fallen 0.2%, the Dow has cumulatively fallen 0.5%, and the Nasdaq has cumulatively fallen 0.5%