Nasdaq Drops 1.5 Percent Following Nvidia Earnings Report
U.S. stocks fell Thursday as cooling AI enthusiasm weighed on chipmakers. The Nasdaq dropped 1.5 percent while investors rotated into financial sectors.
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Major stock indices in the United States retreated on Thursday as the momentum behind the artificial intelligence trade faltered following the latest earnings report from NVIDIA Corporation. Although the semiconductor giant posted results that surpassed analyst projections, the figures did not meet the loftiest market expectations, triggering a 4.9% decline in its stock and a broader sell-off in technology shares.
