On Thursday, US stock markets experienced a downturn following an initially strong start. The S&P 500 declined by 0.2%, the Nasdaq dipped by 0.1%, and the Dow Jones Industrial Average decreased by more than 100 points. This negative trend was driven by concerns over geopolitical tensions and banking sector issues, which overshadowed the optimism generated by corporate earnings and advancements in the AI industry.
The uncertainty was partly fueled by former President Trump's description of his conversation with Russian President Vladimir Putin as "lengthy." Meanwhile, regional banks encountered financial difficulties: Zions Bancorp reported a $50 million charge-off, leading to a 6.4% drop in its stock price. Western Alliance Bancorp also experienced an 11% decline due to complications with a borrower failing to provide necessary collateral.
In the technology and artificial intelligence sectors, stock performances were mixed. Apple saw a decrease of 0.9%, Meta fell by 0.5%, and Tesla's stock dropped over 1%. In contrast, Nvidia's stock rose by 0.8%, Amazon's increased by 0.2%, and Alphabet saw a rise of 0.9%.
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