LIVE MARKETS-Wall Street ends sharply lower on economic worries

ReutersFeb 27, 2025 9:17 PM

Dow down ~0.5%, S&P 500 falls ~1.6%, Nasdaq sinks nearly ~3%
Tech weakest S&P sector; Energy, Financials lead gainers
Dollar jumps; crude rises >2%; bitcoin dips; gold down >1%
US 10-Year Treasury yield edges up to ~4.27%

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WALL STREET ENDS SHARPLY LOWER ON ECONOMIC WORRIES

Shares on Wall Street dropped on Thursday as concerns about a slowing U.S. economy outweighed optimism arising from an upbeat earnings outlook from AI bellwether Nvidia.

Nvidia NVDA.O dropped more than 8%, weighed down by the overall gloomy economic outlook. Chipmakers Broadcom AVGO.O and Advanced Micro Devices AMD.O also fell, pulling the Philadelphia chip index .SOX down 6.1%.

With Nvidia out of the way, the focus shifts to the monthly Personal Consumption Expenditure data, the Federal Reserve's preferred inflation measure, due out on Friday.

"Regardless of what Friday's PCE says, it's likely that the Federal Reserve remains on hold when it comes to any interest rate decision for at least the next six months," writes Clark Bellin, president and chief investment officer, at Bellwether Wealth, based in Lincoln, Nebraska.

"The employment market is strong, and inflation is still a challenge, which is a difficult backdrop for near-term rate cuts."

Here is the closing market snapshot:

(Gertrude Chavez-Dreyfuss)

FOR THURSDAY'S EARLIER LIVE MARKETS POSTS:

NVIDIA'S STOCK FALTERS, BUT IT'S STILL BEEN A STRONG US EARNINGS SEASON - CLICK HERE

RECESSION PANIC WITH NO RECESSION MIGHT BE JUST WHAT THE "BULL DOCTOR" ORDERED - CLICK HERE

CHOOSE YOUR POISON: GDP, JOBLESS CLAIMS, DURABLE GOODS, PENDING HOME SALES - CLICK HERE

WALL STREET MIXED AS TARIFF NEWS WEIGHS - CLICK HERE

NASDAQ COMPOSITE INTERNAL MEASURE NEARS IMPORTANT JUNCTURE - CLICK HERE

FIDELITY SAYS THIS CHINA RALLY IS DIFFERENT - CLICK HERE

NEUTRAL RATE: TIME TO LET GO - CLICK HERE

STOCKS TAKE A BREATHER IN A BUSY SESSION - CLICK HERE

EUROPE BEFORE THE BELL: WE'D FORGOTTEN STOCKS CAN GO DOWN - CLICK HERE

MORNING BID TRUMP TARIFFS TAKE SPOTLIGHT AS NVIDIA NEITHER HOT NOR COLD - CLICK HERE

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