Traders worked on the New York Stock Exchange in New York on Wednesday. Futures linked to the S&P 500 were nearly the same Tuesday night. Stocks fell as traders moved away from tech companies.
S&P 500 futures went down by 0.1%. Nasdaq 100 futures fell by 0.2%. Dow Jones futures went up by 23 points, which is less than 0.1%.
In after-hours trading, Chipotle shares dropped nearly 7%. This happened because the restaurant had fewer customers for the fourth quarter in a row. Advanced Micro Devices shares also fell by more than 7%. Analysts were not happy with their financial forecast.
Major U.S. stock averages went down in the last session. The S&P 500 lost about 0.8%. The tech-heavy Nasdaq Composite fell by 1.4%. The Dow lost nearly 167 points after reaching a record earlier in the day.
Nvidia and Microsoft each lost more than 2%. Other companies, like Broadcom and Oracle, also saw their shares drop.
Vocabulary List:
- Futures /ˈfjuː.tʃərz/ (noun): Financial contracts that obligate the buyer to purchase an asset or the seller to sell an asset at a predetermined future date and price.
- Traders /ˈtreɪ.dərz/ (noun): Individuals or companies engaged in the buying and selling of securities.
- Shares /ʃeərz/ (noun): Units of ownership interest in a corporation or financial asset.
- Analysts /ˈæn.ə.lɪsts/ (noun): Professionals who evaluate and interpret financial data and trends.
- Forecast /ˈfɔːr.kæst/ (noun): A prediction or estimate of future events particularly in finance or economics.
- Composite /kəmˈpɒzɪt/ (adjective): Made up of various parts or elements; in financial terms it often refers to an index that comprises multiple stocks.
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