Major indexes slide as Washington debt talks tangle

Major US equity indices close lower today as debt talks advance without any progress. This gave traders a reason to sell overbought levels, and traders did just that.

A snapshot of the final levels shows:

• The Dow Industrial Average fell -231.09 points or -0.69% to 33055.50
• The S&P index fell -47.05 points or -1.12% to 4145.57
• The NASDAQ index fell -160.54 points or -1.26% to 12560.24

It was a big day for the great drivers of recent times:

• Nvidia fell -$4.88 or -1.57% to $306.88. Nvidia to report earnings after close tomorrow, recent price I extended to $318.28, highest level since December 2021
• Alphabet fell -$2.49 or -1.99%
• Microsoft fell -$5.92 or -1.84%
• Apple fell -$2.73 or -1.57%
• Meta which was up earlier in the day fell $1.58 or -0.64%

A big winner today was Broadcom signing a multi-year deal with Apple for 5G chips for their iPhone. AVGO shares close up $8.13 or 1.2% at 686.50

This article was written by Greg Michalowski at www.forexlive.com.


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