Nasdaq Falls 0.5% While S&P Drops 0.4% as Oil Pops, Nvidia Declines After Earnings

Tiger Newspress05-21

Stocks fell on Thursday, weighed by a spike in crude prices and Treasury yields, while traders weighed whether Nvidia’s earnings report met the high bar set for the artificial intelligence titan.

The S&P 500 declined 0.43%, while the Nasdaq Composite lost 0.56%. The Dow Jones Industrial Average dropped 147 points, or 0.3%.

Crude prices jumped after Reuters reported, citing sources, that Iran’s supreme leader issued a directive to keep enriched uranium within the country — further complicating the outlook to a resolution to the U.S.-Iran war. West Texas Intermediate futures were up 2.9% at $101.04 per barrel. Brent crude popped 2.3% $107.36.

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