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Stock market close: Nasdaq reverses lower as the consumer crunched
An ugly reversal in Nvidia is the headline in the Nasdaq as it finished 1.9% and fell more than 3% from the highs. The chart is a technical red flag with a big outside day; and worse is that it came on ostensibly good news.A look at the winners and losers highlights what the story is beneath the story. The laggard on the Nasdaq today was DollarTree, which fell 12.9%. The company said that consumers' spending shifted to buying food and essentials in a sign of economic weakness, particularly at th...
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Posted: Aug 24 2023, 20:07
Author Name: forexlive
Views: 111745