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S&P 500 loses ground late to fall for the first time this week, Nasdaq eeks out gain
Key Takeaways (30s Read)
The S&P 500 fell for the first time this week while the Nasdaq recorded a slight gain.
The S&P 500 achieved a midday record but fell by 0.3% due to profit-taking in meme stocks that spread to broader selling. Lockheed Martin declined after Trump threatened defense firms, while Caterpillar dropped 4%. Nike reversed gains, falling 3.1% amid tariff concerns. Financial stocks were also down: Bank of America fell 2.8%, and Citi declined 1.1%. In contrast, Intel surged as a government-backed meme stock, closing up 6%. Google rose 2.2% with traffic shifts observed. Overall performance includes various sector movements, with notable declines in the DJIA and TSX.
AI Analyst
AI Opinion
"Today's market movements clearly indicate that the S&P 500's decline was significantly influenced by Trump's pressure on the defense sector. While the financial sector showed weaknesses, technology stocks like Intel and Google showed remarkable growth. This trend suggests that investors are becoming more selective in their stock choices. Given the ongoing market volatility, particularly with profit-taking pressuring prices, it is essential to monitor subsequent trends closely."
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