[New York Stock Exchange] Nasdaq, Record High for Five Days... Investment Sentiment Retreats Amid Trump Tariff Concerns

[Financial News]  


The New York Stock Exchange closed mixed on the 18th (local time).

Unlike the tech-heavy Nasdaq index, which hit a record high for five consecutive days, the Dow Jones Industrial Average and the Standard & Poor's (S&P) 500 fell.

The S&P 500, which hit a record high the previous day, closed slightly lower, failing to renew its record high.

A Financial Times (FT) report that Donald Trump, the President of the United States, is trying to apply at least a 15-20% reciprocal tariff rate on the European Union (EU) dampened investor sentiment. The EU exports more to the United States than China, which is the number one exporter to the US among individual countries.

Meanwhile, Nvidia halted its record high streak after four days.





The Dow, composed of 30 large-cap stocks, closed down 142.30 points (0.32%) at 44,432.19, compared to the previous session. The index showed weakness as American Express and 3M each plunged 2.4% and 3.7%.

It moved further away from the record high of 45,014.04 set on December 4 last year.

The S&P 500, which broadly reflects market conditions, closed slightly lower, failing to rewrite its record high. The S&P 500 fell 0.57 points (0.01%) to close at 6,296.79.

On the other hand, the Nasdaq continued its record high streak. Although it only rose 10.01 points (0.05%) on the day, it closed at 20,895.66, continuing its record high streak resumed on the 14th.

The Nasdaq index jumped 1.5% over the week.

The S&P 500 also recorded a weekly gain of 0.6%.

Among the three major indices, only the Dow fell on a weekly basis. However, the decline was not significant, at just 0.07%.





Among the M7 big tech companies, only Nvidia, the market cap leader, and Microsoft (MS), the second-largest, slightly declined.

Nvidia halted its record high stock price streak after four days, which began again on the 15th. On the day, Nvidia fell 0.59 dollars (0.34%) to close at 172.41 dollars.

MS fell 1.65 dollars (0.32%) to close at 510.05 dollars.

However, despite the weakness on the day, Nvidia surged 5.1% over the past four days. For the year as a whole, it rose 28%, raising its market cap to 4.2 trillion dollars.

Tesla rose 10.24 dollars (3.21%) to 329.65 dollars, overcoming the previous day's weakness. Tesla rose 5.15% over the week, fluctuating up and down.





Some stocks fell despite surprise performance.

Netflix's second-quarter revenue surged 16% and net income soared 46%, exceeding market expectations, but it plunged as it failed to meet investors' heightened expectations.

Netflix plummeted 64.93 dollars (5.10%) to 1,209.24 dollars.

Credit card company American Express also saw its stock price fall sharply despite surprise performance.

American Express fell 7.40 dollars (2.35%) to close at 307.95 dollars, despite better-than-expected performance.

On the other hand, online brokerage firm Interactive Brokers Group soared 4.62 dollars (7.77%) to 64.05 dollars, driven by better-than-expected performance.

dympna@fnnews.com Song Kyung-jae Reporter