Stock market|Nasdaq’s record streak was snapped as Nvidia fell.
Stateside On the New York Stock Exchange, the record streak of the technology-focused Nasdaq was broken on Thursday after the value of Nvidia’s stock fell, boosted by the artificial intelligence boom. Before this, the index had already managed to forge new records for seven days in a row.
The broad-based S&P 500, which set numerous records during the beginning of the year, also closed this session down.
At the end of the trading day, the Nasdaq was down 0.8 percent and the S&P 500 was down 0.3 percent.
The industrial index Dow Jones, on the other hand, was up 0.8 percent when trading ended on Thursday.
Nvidia was 3.5 percent below zero on Thursday. However, the company’s rise has been so strong recently that the value of Nvidia’s shares is still almost 20 percent higher after June.
The market’s enthusiasm for artificial intelligence has boosted technology stocks and especially Nvidia. The company manufactures high-end processors that are valued in artificial intelligence applications.
Nvidia’s market value overtook Microsoft’s on Tuesday and the processor manufacturer temporarily became the world’s most valuable listed company. However, with Nvidia’s decline on Thursday, Microsoft returned to the top at the end of the trading day.
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