The Dow Jones Industrial Average posted its longest losing streak since 2020 on Friday, plunging for a seventh session.
The blue-chip index closed at 43,828.06, down 86.06 points, or 0.2%. At 19,926.72, the Nasdaq Composite increased by 0.12%. At 6,051.09, the S&P 500 closed the day with minimal change.
The S&P 500 concluded a three-week winning streak with a 0.6% fall, while the Dow reported a 1.8% decline for the week. During that time, the Nasdaq increased by 0.3%.
Infrastructure Capital Advisors CEO Jay Hatfield told CNBC, “We’re kind of stuck in this trading range.” Until there is a catalyst, the Nasdaq will perform better, small-cap stocks will perform worse, and the Dow will perform worse.
Meta Platforms lost more than 1%, and Nvidia lost over 2%.Additionally, Amazon shares were slightly down. Conversely, Broadcom’s market capitalization topped $1 trillion, a more than 24% increase, following the release of fiscal fourth-quarter adjusted earnings that above forecasts and the announcement that artificial intelligence revenue had increased by 220% for the year.
The actions follow a loss session for the three major averages on Wall Street. Additionally, the Nasdaq Composite fell below the 20,000 mark.
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