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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From the invasion of Ukraine to today’s border ceasefire in Southeast Asia, the global security architecture has undergone a period of unprecedented strain.
The tectonic plates of global trade and geopolitics are shifting, demanding that regional cooperative structures evolve to match new strategic realities.
At least eight people were killed and 18 others injured when an explosion struck a mosque during Friday prayers in the Syrian city of Homs, Syrian authorities said.
Russia plans to modernise its nuclear triad, strengthen ground forces, and develop a universal air defence system as part of its new State Armament Programme for 2027–2036, the Kremlin announced on Friday.
New York placed the state under emergency measures on Friday as a powerful winter storm brought the heaviest snowfall since 2022, disrupting travel across the north-east of the United States.
Polish fighter jets on Thursday intercepted a Russian reconnaissance aircraft flying near Poland’s airspace over the Baltic Sea and escorted it away from their area of responsibility.
Russia launched missiles and drones at Kyiv and other parts of Ukraine overnight on Saturday, Ukrainian officials said, ahead of talks on Sunday between President Volodymyr Zelenskyy and U.S. President Donald Trump aimed at ending nearly four years of war.
The United States carried out a strike against Islamic State militants in northwest Nigeria at the request of Nigeria's government, President Donald Trump and the U.S. military said on Thursday.
Israel became the first country to formally recognise Somaliland as an independent state on Friday, drawing strong condemnation from Somalia and regional and international organisations.
China has given the nod for car makers to sell Level 3 self-driving vehicles from as early as next year after it approved two electric sedans from Changan Auto and BAIC Motors.
Warner Bros Discovery’s board rejected Paramount Skydance’s $108.4 billion hostile bid on Wednesday (17 December), citing insufficient financing guarantees.
Ford Motor Company said on Monday it will take a $19.5 billion writedown and scrap several electric vehicle (EV) models, marking a major retreat from its battery-powered ambitions amid declining EV demand and changes under the Trump administration.
Iran has rolled out changes to how fuel is priced at the pump. The move is aimed at managing demand without triggering public anger.
U.S. stock markets closed lower at the end of the week, as investors continued to rotate out of technology shares, putting pressure on major indices.
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