Wall Street closed this Monday in red in a bearish day marked by the bad day of the cryptocurrencies and the 6% drop in Bitcoin, which is trading below $86,000.
At the close, the S&P 500 fell 0.53% to 6,812.63 points, the Nasdaq lost 0.38%, to 23,275.92 points, and the Dow Jones Industrial Average fell 0.9% to 47,289.33 units.
The three indices thus broke five-day winning streaks partly due to the Bitcoin crashwhich he exercised downward pressure about the stock market.
By the end of last month, that cryptocurrency had fallen below $90,000 per first time since Apriland since then he has had difficulties to maintain above that mark.
Strategies and movements in the technology sector
On the other hand, companies such as Broadcom and Super Micro Computer lost more than 4% and 1% respectively, indicating greater profit taking in some companies in the artificial intelligence sector, reports CNBC.
Meanwhile, the Synopsys shares soared 4.85% after Nvidia announced this Monday the purchase of shares worth $2 billion from that company, as part of a “multi-year strategic partnership” aimed at “accelerating engineering solutions in computing and artificial intelligence (AI).”
According to a joint statement, Nvidia acquired the shares of Synopsys at $414.79 per title and will work with the company to “accelerate its portfolio of high-performance applications, advance advanced AI engineering, expand cloud access, and develop joint business initiatives.”
Outside the technology sector, retailers such as Ulta and Walmart advanced 1.64% and 0.92%, respectively, thanks to the boost from the christmas shopping season.
- According to Robert Scheininvestment director of Blanke Schein Wealth Managementthe stock is now “going through a period of digestion.”
“But we think the outlook for stocks remains strong right now, especially given the high probability that the Federal Reserve cut interest rates again next week,” he told CNBC.
