How major US stock indexes fared Wednesday, 8/7/2024

Wall Street slumped after a morning rally evaporated, but the losses weren’t as bad as the manic moves that wracked markets worldwide over the last week.

The S&P 500 fell 0.8% Wednesday. The Dow Jones Industrial Average fell 0.6%, and the Nasdaq composite dropped 1%.

Stocks swung lower as Nvidia, one of Wall Street’s most influential companies, went from a morning gain to a loss of 5.1%, making it the heaviest weight on the S&P 500. Nvidia and other Big Tech stocks have been struggling on worries their prices shot too high amid Wall Street’s frenzy around artificial-intelligence technology.

On Wednesday:

The S&P 500 fell 40.53 points, or 0.8%, to 5,199.50.

The Dow Jones Industrial Average fell 234.21 points, or 0.6%, to 38,763.45.

The Nasdaq composite fell 171.05 points, or 1%, to 16,195.81.

The Russell 2000 index of smaller companies fell 29.19 points, or 1.4%, to 2,035.11.

For the week:

The S&P 500 is down 147.06 points, or 2.8%.

The Dow is down 973.81 points, or 2.5%.

The Nasdaq is down 580.36 points, or 3.5%.

The Russell 2000 is down 74.20 points, or 3.5%.

For the year:

The S&P 500 is up 429.67 points, or 9%.

The Dow is up 1,073.91 points, or 2.8%.

The Nasdaq is up 1,184.45 points, or 7.9%.

The Russell 2000 is up 8.04 points, or 0.4%.