Dow Hits New Record High as Nasdaq and S&P 500 Plunge

Latest Financial News and Updates:

1. Wednesday’s Biggest S&P 500 Movers
2. Why Investors are Jumping Into Small-Cap Stocks
3. First Horizon Stock Falls as NII Misses Expectations
4. Chipmakers Plunge on Worries About Trade Curbs, Geopolitics
5. Novo Nordisk, Eli Lilly Decline as Roche Weight-Loss Drug Shows Promise
6. UnitedHealth Stock Continues Post-Earnings Surge
7. J&J Shares Jump After Earnings
8. Gold Extends Gains After Hitting Record High
9. Major Index Stock Futures Sharply Lower

The financial markets were abuzz with activity on Wednesday, with several key movers grabbing headlines. Here are some of the biggest highlights from the day:

1. **Geopolitical Uncertainty Drags Down Tech Sector:** Reports of potential U.S. rules to restrict exports of semiconductor equipment to China sent shockwaves through the tech industry. Companies like Applied Materials, Lam Research, and Advanced Micro Devices saw their shares plummet by around 10%.

2. **Vistra Corp. Faces Steepest Losses:** Vistra Corp., a utility stock that had previously seen gains, experienced an 11.3% drop amid concerns about the power grid in Texas following Hurricane Beryl.

3. **Small-Cap Stocks Surge:** The Federal Reserve’s potential interest rate cut in September has fueled a rally in small-cap stocks. The Russell 2000 Index rose by about 9% over the past five sessions, outperforming the S&P 500.

4. **Chipmakers Tumble on Trade Curbs Fear:** Nvidia, Qualcomm, and other chip stocks plunged on reports of potential government restrictions. ASML, a key semiconductor equipment manufacturer, was especially hard hit.

5. **Roche’s Weight-Loss Drug Impacts Rivals:** Roche Holding AG’s promising weight-loss drug data led to declines in shares of Eli Lilly and Novo Nordisk, with CT-996 showing potential competition for existing drugs.

6. **UnitedHealth Stock Surges:** UnitedHealth Group continued its upward trend following strong quarterly earnings. The stock saw a decisive close above the 50-week moving average.

7. **Gold Prices Hit Record High:** Gold prices soared to around $2,480 an ounce, supported by expectations of a Federal Reserve rate cut in September. The commodity broke out from a rectangle pattern, indicating a bullish trend.

These are just a few of the notable events that shaped the financial landscape on Wednesday, providing investors and market watchers with plenty to analyze and discuss.

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