Stocks close lower, Dow falls by 600 despite Nvidia earnings

Stocks (^DJI, ^IXIC, ^GSPC) have reversed at Thursday's market close, initially riding high off of Nvidia's (NVDA) fiscal first-quarter earnings reported on Wednesday. The Dow Jones Industrial Average fell by 605 points, or just over 1.5%, and the S&P 500 dips back below 5.300.

Market Domination's Julie Hyman reports on the day's market performances while Jared Blikre takes a look at sector losses and laggards in the semiconductor industry.

For more of everything Nvidia, catch Yahoo Finance's exclusive interview with CEO Jensen Huang.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime.

This post was written by Luke Carberry Mogan.

Video transcript

The closing bell on Wall Street and now it's market domination over time.

We are joined by Jared to get you up to speed on the action from today's session.

Let's talk about where the major averages ended up here because interesting story here today as we really saw deterioration in the dow in particular throughout the course of the session finishing off by more than 600 points.

That's a 1.5% drop, some of that drop because of Boeing Boeing falling after its finance chief and CFO speaking at a conference and talking about the cash flow challenges that the company still faces the S and P 500 though did not escape the selling.

It was down about half as much, about three quarters of 1%.

And the NASDAQ helped a little bit by NVIDIA off only about 4/10 of 1%.

And speaking about NVIDIA, I just wanted to check on where that stock closed on the day here up by 9.3%.

That is a record close for NVIDIA.

Let's max it out, shall we just for fun here?

227,000%.

I didn't, I didn't know what number this is going to show Jared, what I maxed it out, but obviously in the last few years have been in particular just Blockbuster for that Invidia stock.

Well, thank you, Julie.

We should go and measure the 20 year returns of the S and P 500.

See what turns up might be a few surprises.

But what is a slight surprise here is all 11 sectors closed in the red.

And that is a different picture than what we saw in the open when we had the S and P 500 opening at a record.

NASDAQ opening there or near a record.

And it was just kind of downhill ever since.

Now.

If we take a look at our leader board here, it's a very similar story.

You see cannabis is actually the weakest sector and also Bitcoin taking a hit solar energy which was popping yesterday and also disruptive disruptive tech.

So basically all the fringer areas of the market seeing a lot of red today, I do want to show the semiconductor heat map because in addition to NVIDIA, we do have some other green Taiwan semi up 6/10 of a percent.

A SML up over 1% and marvel up almost 2%.

But for the most part, we're seeing a lot of losses here, global foundries down 8% intel down four A MD down three.

So kind of a bell weather for the rest of the market.

Take it as you will, but I'm going to be doing a deep dive in today's price action in about 30 minutes guys.

Thank you, Jared.