NEW YORK / LONDON (IT BOLTWISE) – US stock markets had a turbulent day as NVIDIA and Bitcoin caused sharp fluctuations. Despite an initial decline, the S&P 500 recovered while the Nasdaq rose slightly. The volatility shows market uncertainty amid high valuations and the role of AI stocks.
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The US stock exchanges experienced a turbulent trading day on Friday, marked by strong fluctuations in NVIDIA and Bitcoin. The S&P 500 started the day with a significant decline of 1.3%, but managed to recoup all losses and closed with a slight loss of 0.1%. The Nasdaq Composite turned positive, rising 0.1%, while the Dow Jones Industrial Average pared its loss to 309 points, or 0.7%, after earlier falling nearly 600 points.
The focus of attention was once again on AI stocks, which the day before had triggered one of the strongest declines on Wall Street since the spring. NVIDIA, considered a pioneer of AI technology, started the day with a 3.4% loss but recovered to rise 1.8%, dragging the market down. Critics warn that the U.S. stock market could be vulnerable to a decline because prices have soared since April, particularly for stocks caught up in the AI mania.
Outside the technology sector, Walmart fell slightly by 0.1% after announcing that CEO Doug McMillon will unexpectedly retire in January. Overall, the S&P 500 fell 3.38 points to 6,734.11. The Dow Jones Industrial Average fell 309.74 points to 47,147.48, while the Nasdaq Composite rose 30.23 points to 22,900.59.
Market volatility shows investor uncertainty over high valuations and the role of AI stocks. One way to address criticism of high stock prices is to deliver solid earnings growth. This adds pressure to NVIDIA’s earnings report next Wednesday, when the company will announce its summer results. Should NVIDIA fail to meet analyst expectations, further declines could follow, which would have a significant impact on the market as NVIDIA is now Wall Street’s largest stock by value.
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