Stocks finished in the red today in a back-and-forth session. The Dow dropped 189 points while the Nasdaq shed 100, as investors unpacked the fallout from CEO Jensen Huang resigning from Nvidia (NVDA). While rival chipmakers and Big Tech titans rose, there's now more uncertainty around the AI trade and capex concerns. All three major indexes traded briefly in the black midday, but pivoted lower by the late afternoon. Elsewhere, existing home sales fell to their lowest level since 2010, as high mortgage rates pressure buyers.
Oil Prices Stubbornly Higher After Trump Comments
Oil prices perked back up today, after weekly inventories rose for the first time in five weeks. Comments from U.S. President Donald Trump about not needing a deal with Iran also boosted black gold. December-dated West Texas Intermediate (WTI) gained 2% close at $88.19.
December-dated gold futures fell 2.8% to settle at $3,888.70 per ounce, as geopolitical and inflation fears weighed on the safe-haven asset.
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