The U.S. stock market experienced a rough day on Thursday, with the Nasdaq Composite taking a significant dip of around 500 points. The Dow Jones Industrial Average also saw a decline, trading down 0.9% to 41,763.46, while the S&P 500 fell by 1.9% to 5,705.45. This downturn was attributed to a combination of factors, including concerns about rising interest rates and potential economic slowdowns. These factors have led to a sense of uncertainty among investors, prompting a cautious approach to stock market investments.
Several prominent tech companies, including Apple, Amazon, and Intel, were among the top stocks that garnered attention from retail traders and investors throughout the day, all experiencing notable losses.
Apple Inc. (AAPL)
closed the day down 1.82% at $225.91, with an intraday high of $229.83 and a low of $225.37. Despite reporting a fiscal fourth-quarter revenue of $94.9 billion, surpassing analyst estimates, Apple’s stock performance reflected the overall market sentiment.Amazon.com Inc. (AMZN)
ended the day down 3.39% at $186.19, with an intraday high of $190.6 and a low of $185.23. The online retail giant’s third-quarter net sales reached $158.9 billion, demonstrating an 11% year-over-year increase, but the stock still faced pressure from the broader market downturn.Intel Corp. (INTC)
closed down 3.50% at $21.52, with an intraday high of $22.25 and a low of $21.47. Despite reporting an EPS loss of 46 cents against an estimate of a loss of two cents, the chipmaker’s stock faced a significant decline, likely due to the market’s focus on the broader economic outlook.However, not all news was negative on Thursday.
Peloton Interactive Inc. (PTON)
shares soared 27.82% to close at $8.5, with an intraday high of $8.92 and a low of $7.67. This significant gain followed the fitness company’s impressive first-quarter sales results, which exceeded estimates and signaled a potential turnaround for the company.Tesla Inc. (TSLA)
, the EV maker, ended the day down 2.99% at $249.85, with an intraday high of $259.75 and a low of $249.25. Despite remaining California’s top EV choice, Tesla’s stock still experienced a decline, aligning with the broader market trends.This volatile market environment highlights the need for investors to carefully consider their investment strategies and stay informed about the latest economic developments and company performance.
