On Monday, significant declines hit U.S. and Japanese markets due to concerns over a slowing U.S. economy, sparking a global sell-off. The Dow Jones Industrial Average fell 2.6%, one of its largest single-day drops, while the S&P 500 and Nasdaq Composite also faced substantial losses. Japanese stocks experienced their biggest one-day drop since 1987, with the Nikkei 225 index plunging over 12%. The downturn was intensified by falling oil prices and increased expectations of a Federal Reserve rate cut at its next meeting.
On the day, the Dow Jones Industrial Average closed at 38,703.27, down 2.6%. The Nasdaq fell 3.4% to 16,200.08, and the S&P 500 decreased 3% to finish at 5,186.33.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Palantir Technologies Inc. PLTR
Palantir’s shares fell by 2.63% to close at $24.09. The stock’s intraday high and low were $24.42 and $21.23, respectively, with a 52-week range of $29.83 to $13.68. The company reported second-quarter revenue of $678.13M (+27% YoY), beating estimates, with adjusted earnings of 9 cents per share, and raised its full-year revenue outlook to $2.742B-$2.75B, driven by strong commercial and government demand for AI systems.
Alphabet Inc. GOOGL GOOG
Alphabet’s Class A stock declined by 4.45% to close at $159.25, while the company’s Class C shares fell by 4.6% to $160.64. A federal judge ruled that Alphabet’s payments to make its search engine the default option on smartphone web browsers violates U.S. antitrust law.
Nvidia Corporation NVDA
Nvidia’s shares plunged by 6.36% to close at $100.45. The intraday high and low were $103.41 and $90.69, respectively, with a 52-week range of $195.95 to $39.23. The company’s shares dropped amid rumors of a delay in its next-gen Blackwell accelerators.
Advanced Micro Devices, Inc. AMD
AMD’s shares rose by 1.75% to close at $134.82. The intraday high and low were $139.14 and $121.83, respectively, with a 52-week range of $227.3 to $93.12. The company’s shares rebounded after a morning selloff in chip stocks.
Tesla, Inc. TSLA
Tesla’s shares fell by 4.23% to close at $198.88. The intraday high and low were $203.88 and $182, respectively, with a 52-week range of $278.97 to $138.8. The company’s shares dropped due to broader market weakness and concerns about a potential U.S. economic slowdown.
Prepare for the day’s trading with top premarket movers and news by Benzinga.
Photo by Jirapong Manustrong on Shutterstock
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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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