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<US>DJIA Finishes Down 816 Pts; Apple, Nvidia Sag 2%; Concerns Over Tax Cut Bill Worsening Deficit
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The market was worried that a tax cut budget bill proposed by the US Republican Party may exacerbate the US deficit. Coupled with an upsurge in US Treasury yields, US stocks shrank across the board by more than 1% on Wednesday. The DJIA slid as much as 892 points or 2.1%, busting below 42,000, closing near the day's low, down 816 points or 1.9%, at 41,860. The Nasdaq dived 270 points or 1.4%, closing at 18,872. The S&P 500 dipped 95 points or 1.6%, closing at 5,844. Nvidia (NVDA.US) sagged 1.9%, while Apple (AAPL.US), which will hold a developer conference early next month, cratered 2.3%. Amazon (AMZN.US) fell 1.5%. However, Alphabet (GOOG.US) concluded the 2025 I/O developer conference, and the market was satisfied with its AI roadmap, shoring up its stock by 2.9% against the market trend. AASTOCKS Financial News Website: www.aastocks.com |
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