More drops for technology stocks weighed on Wall Street Wednesday.
The Standard & Poor’s 500 fell 0.5% for its fifth modest loss in the last six days. The Dow Jones industrial average rose 260 points, or 0.5%, and the Nasdaq composite sank 1.5%.
More than twice as many stocks rose within the S&P 500 than fell,
» Read more about: More drops for technology stocks weigh on Wall Street »
UBTech humanoid robot is on display during the 27th China Beijing International High-tech Expo at China National Convention Center on May 8, 2025 in Beijing, China.
Vcg | Visual China Group | Getty Images
China’s Hong Kong-listed technology stocks slid into bear market territory on Thursday,
Asian shares slipped Thursday after more drops for technology stocks weighed on Wall Street.
U.S. futures edged higher and oil prices sank more than $1 a barrel.
Tokyo’s Nikkei 225 shed 0.7% to 53,935.77, while the Kospi in South Korea skidded 3.2%, to 5,199.47.
» Read more about: Asian shares drop after Wall Street retreats thanks to sinking tech stocks »
In the span of two days, hundreds of billions of dollars were wiped off the value of stocks, bonds and loans of companies big and small across Silicon Valley
» Read more about: Trillion-dollar tech wipeout ensnares all stocks in AI’s path »
Cathie Wood’s Ark Invest kept buying into the crypto slump, adding to positions tied to digital assets as Bitcoin steadied in the mid $70,000s and sentiment stayed fragile.
Trade disclosures showed the firm’s ETFs bought about $3.25M of Bitmine Immersion Technologies on Tuesday, adding exposure to a stock that has tracked the broader slide in crypto-linked names.
Investing 35% in retirement prevented saving for a home down payment before the husband retires in 7 years.
Reducing retirement contributions from $2,800 to $1,500 monthly frees $1,300 to save down payment in 2 years.
Maximizing retirement contributions can delay homeownership when timelines are constrained before retirement.
Ray Dalio still thinks gold is the “safest money”
The Dow Jones Industrial Average (DJIA) climbed about 600 points, or 0.6%, and tapped the 49,600 region on Wednesday, gaining ground on the back of climbing pharmaceutical stocks. The S&P 500 shed approximately 0.5% while the Nasdaq Composite dropped 1.4%, weighed down by continued weakness in semiconductor and software stocks. Markets remained in rotation mode,
Enphase Energy saw its strongest demand in over two years, but there was a catch.
