At 2:45 PM (Lisbon time), the Dow Jones index rose 0.15% to 44,988.63 points, while the broad S&P 500 index fell 0.59% to 6,411.37 points.
Meanwhile, the tech-heavy Nasdaq dropped 0.57% to 21,193.95 points.
On Tuesday, the S&P 500 decreased by 0.59%, the Dow Jones Industrial Average increased by 0.02%, and the Nasdaq fell by 1.46%.
Technology stocks have been particularly noticeable in the declines this week. As highlighted by Henrique Valente, analyst at ActivTrades Europe, in a note, “Nasdaq recorded its second worst session since the announcement of tariffs in April, falling 1.32%.”
“There wasn’t a single trigger for this drop, but several factors are beginning to create nervousness among investors,” he explains, “particularly the recent appreciation of tech stocks, which has led Nasdaq to rise 40% since April, raising questions.”
For the analyst, hiring and spending related to artificial intelligence (AI) “are beginning to resemble, in some aspects, the dotcom bubble,” with emerging doubts about the returns of companies using generative AI models.
“The market will be closely watching Nvidia’s quarterly earnings release next week, as well as this week’s central bank conference in Jackson Hole, where Jerome Powell is expected to provide some insights on the direction of US monetary policy,” adds Henrique Valente.
