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Tech stocks slid on Thursday as optimism over Nvidia's robust earnings was overshadowed
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After a week of market uneasiness, Nvidia's profit surge and Walmart's earnings had initially offered investors relief. But the bullishness faded by Thursday afternoon.
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Walmart's stock turned sharply higher, as earnings beat expectations and the full-year outlook was raised amid strength in spending across all income cohorts.
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An early stock-market rally gave way to broad-based selling on Thursday, as doubts about the artificial-intelligence trade re-emerged following the latest batch of earnings from Nvidia.
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"Big mo" stock strategies have lost their advantage, but these companies display relative strength.
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AI bubble fears return as Wall Street falls back from short-lived rally The GuardianStocks Tumble as Early Rally Gives Way to Tech Anxiety The New York TimesUS stocks slide as Wall Street's AI jitters persist Yahoo FinanceStock Market Today: Stock-Market Rebound Evaporates as AI Fears Resurface The Wall Street JournalTraders Search For Clues Behind Biggest S&P Reversal Since April Bloomberg.com
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Stocks tumble, Nasdaq closes 2% lower after stunning reversal in AI, Nvidia stocks CNBCStocks Tumble as Early Tech Rally Gives Way to Worries The New York TimesStock Market Today: Stock-Market Rebound Evaporates as AI Fears Resurface The Wall Street JournalStock market fizzles despite Nvidia, Walmart strength NBC News
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Government labor data could paint a darker economic picture, leading to a market slide that would throw cold water on the outlook of those who are well off.
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CarMax said board member David McCreight, a retail clothing executive who has served as CEO of Lulu's Fashion Lounge Holdings, will serve as interim CEO.
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