Stock Market Update
03-Sep-24 11:00 ET
NVDA, AAPL, AVGO, other mega caps fall under consolidation
Dow -456.56
at 41106.52,
Nasdaq -431.56
at 17282.05,
S&P -87.81
at 5560.59
[BRIEFING.COM] The S&P 500 sports a 1.5% decline and the Nasdaq Composite trades 2.4% lower.
Market breadth reflects broad selling activity. Decliners lead advancers by a 5-to-2 margin at the NYSE and by a 3-to-1 margin at the Nasdaq.
Still, the major indices are holding up okay considering that some the weightiest stocks show outsized losses. NVIDIA (NVDA 110.24, -9.14, -7.7%), Broadcom (AVGO 154.54, -8.30, -5.1%), and Apple (AAPL 223.67, -5.33, -2.3%) are standout in that respect, trading sharply lower due to consolidation-related selling. NVDA shares are still 122% higher this year, AVGO sits on a 38% gain, and AAPL trades 16% higher since the start of 2024.
