Home News Nvidia has boosted the Nasdaq to a record high, but the Dow drops more than 600 points

Nvidia has boosted the Nasdaq to a record high, but the Dow drops more than 600 points

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Nvidia has boosted the Nasdaq to a record high, but the Dow drops more than 600 points

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A better-than-expected earnings report from Nvidia led the Nasdaq to a new high today, but the stock market struggled overall, with Dow Jones falling over 600 points. Meanwhile, Federal Reserve officials expressed increased concern about inflation at their latest meeting, with members indicating a lack of confidence in proceeding with interest rate reductions.

In the late afternoon, the Dow dropped 625 points, or about 1.5%, to 39,045. The Nasdaq hit an all-time high, reaching 16,778 points, while the S&P 500 shed 0.5%. Meanwhile, the 10-year Treasury yield jumped to 4.479%.

Nvidia stock opens above $1,000 after record earnings

After delivering a better-than-expected first-quarter earnings report and announcing a 10-for-1 stock split, Nvidia’s stock price opened above $1,000 Thursday morning. The stock was up over 11% in the late afternoon, training around $1,061.

Nvidia collaborator TSMC saw its shares open at around $159, up about 1.9%. The chipmaker beat Wall Street’s expectations again, reporting a record first-quarter revenue of $26 billion for fiscal year 2025 — up 262% from a year ago.

The chipmaker’s revenue for the quarter ending April 28 rose 18% from its last quarter revenue of $22 billion, which also beat Wall Street’s sky-high expectations and was up nearly 270% from the previous year.

Boeing’s China-bound planes are stuck in regulatory limbo

Boeing can’t deliver planes to China. Reuters reports that the company’s planes are stuck in delays because of inspections from the country’s Civil Aviation Administration (CAAC). The inspections concern the batteries being used in the cockpit voice recorder of the 737 Max planes. It’s likely a disappointment for Boeing, considering it just regained business in China.

Following the news, the stock dropped over 6% in the late afternoon.

DOJ sues Live Nation for alleged Ticketmaster monopoly

Shares of Live Nation Entertainment fell by more than 8% after the U.S. Department of Justice filed a lawsuit to dismantle Ticketmaster’s parent company, citing antitrust violations. The lawsuit alleges that Live Nation Entertainment illegally controls the ticketing and concert promotion market and dominates most live concert venues in the country.

— Britney Nguyen and Melvin Backman contributed to this story.

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