"Inflation Reports and Chip Selloffs: Stock Market Slips Today"

1 min read
Source: Investor's Business Daily
"Inflation Reports and Chip Selloffs: Stock Market Slips Today"
Photo: Investor's Business Daily
TL;DR Summary

The stock market experienced selling pressure as wholesale prices in February exceeded expectations and retail sales weakened, causing the Dow Jones, S&P 500, and Nasdaq to fall. Despite analysts turning bullish on Nvidia and Super Micro Computer, both stocks plunged. Cathie Wood's ARK Invest holding Robinhood surged, while Tesla fell. Economic data showed a rise in producer prices and a decrease in initial jobless claims, with most sectors in the S&P 500 lower. Some stocks remained near buy points, including Neurocrine Biosciences, Royal Caribbean, and Dexcom.

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