The S&P 500 closed lower on Monday (25 August) as investors turned their attention to Artificial Intelligence (AI) chipmaker Nvidia’s upcoming quarterly results, following Friday’s rally that saw the Dow Jones Industrial Average close at a record high.
On Friday, US Federal Reserve Chair Jerome Powell suggested at the Jackson Hole Symposium that a rate cut could be considered at the Fed’s September meeting, citing recent weakness in the labour market. This announcement had previously supported gains in the markets.
Nvidia climbed ahead of its quarterly report on Wednesday, which is set to be one of Wall Street’s most closely watched events of the week. With the company accounting for roughly 8% of the S&P 500, its results could have a wide-reaching impact on Americans using index funds for retirement savings.
Market close figures were as follows:
The S&P 500 fell 27.93 points, or 0.43%, ending at 6,438.98.
The Nasdaq Composite dropped 47.24 points, or 0.22%, to 21,449.29.
The Dow Jones Industrial Average slipped 349.27 points, or 0.77%, to 45,282.47.
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The Trump administration is expected to delay enforcement of a law requiring Chinese tech firm ByteDance to sell or shut down its U.S. operations of TikTok, a source familiar with the matter told Reuters on Sunday days ahead of a 17 September deadline.
Azerbaijan is preparing to finance a cultural centre, sports school and arts facility in the town of Irpin, near Kyiv, under a draft bilateral agreement.
China is set to intensify its recent push in strategic diplomacy and power projection as it hosts its annual security forum this week amidst heightened regional tensions.
Billionaire Elon Musk's satellite internet service Starlink was back online for most users after a brief outage on Monday, according to tracking website Downdetector.com.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
A day of mourning has been declared in Portugal to pay respect to victims who lost their lives in the Lisbon Funicular crash which happened on Wednesday evening.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
Music mega-star Taylor Swift and National Football League player Travis Kelce announced their engagement. “Your English teacher and your gym teacher are getting married," the couple wrote in a joint Instagram post, alongside photos of Kelce proposing to Swift in a garden of pink and white flowers.
India's retail inflation (INCPIY=ECI) rose to 2.07% in August as food prices edged up, although it remained within the central bank's tolerance range for the tenth consecutive month.
Jaguar Land Rover (JLR) said Wednesday that it now believes “some data has been affected” after a cyberattack forced the company to shut down operations last Tuesday. Staff have been instructed to work from home since the incident.
Oracle co-founder Larry Ellison has overtaken Tesla Chief Elon Musk as the world’s richest person after a surge in the company’s stock lifted his net worth to $393 billion, according to the Bloomberg Billionaires Index.
China has launched its first review of its foreign trade law since 2004, signalling a potential shift in how the country manages international commerce amid rising global trade tensions.
The U.S. will lower tariffs on Japanese cars and auto parts by 16 September under a trade deal formalised by President Donald Trump, Japan’s chief negotiator said Tuesday.
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