US stocks fall as Nvidia results hit AI shares

BSS
Published On: 28 Feb 2025, 10:19

NEW YORK, Feb 28, 2025 (BSS/AFP) - Wall Street stocks tumbled Thursday, extending a rough period as disappointment with Nvidia earnings and fresh tariff rhetoric from Donald Trump pressured the market.

While Nvidia reported impressive profits, shares finished down 8.5 percent, with investors seemingly wanting more from the artificial intelligence company.

"Investors have gotten used to having Nvidia blow the door off," said Jack Ablin of Cresset Capital. "They did well but they didn't blow the door off."

Ablin also cited remarks from Trump indicating that 25 percent tariffs on Mexico and Canada would go into effect on Tuesday.

The Dow Jones Industrial Average finished down 0.5 percent at 43,239.50.

The broad-based S&P 500 dropped 1.6 percent to 5,861.57, while the tech-rich Nasdaq Composite Index fell 2.8 percent to 18,544.42.

After shooting to records earlier this month, US indices have struggled in recent sessions following a trove of lackluster economic data as Trump presses on with assertive trade policy and government job cuts.

On Thursday, weekly jobless claims exceeded estimates, while pending home sales also disappointed.

Other AI companies fell, including Arm Holdings, which lost 6.2 percent and Broadcom, which dropped 7.1 percent.

Among individual companies, Salesforce fell 4.0 percent on disappointment with the software company's forecast

EBay slumped 8.2 percent as the company's cautious financial outlook added to concerns about its exposure to tariff actions.

  • Latest
  • Most Viewed
Putin-Trump summit to last 'minimum 6-7 hours': Kremlin
Khaleda Zia's 81st birthday celebrated in Chattogram
UN says at least 1,760 killed while seeking aid in Gaza since late May
Mahuchikh pips Olyslagers in Silesia Diamond League high jump
Doa mahfil at BNP Gulshan office marking Khaleda Zia’s birthday
No Grand Slam Track in 2026 till athletes paid for 2025: Johnson
Libya to hold rare local vote in test for divided nation
4-day Janmastami begins in Ctg tomorrow
New-look Liverpool kick off Premier League season after spending spree
New-look Liverpool kick off Premier League season after spending spree 
১০