Broader US indices tumble and close lower on the week

<p>The broader major indices closed sharply lower today led by the NASDAQ index which fell -1.56%. The S&amp;P index fell -1.22%. The declines push the indices into the red for the trading week. The Dow industrial average fell -0.83%.</p><p>For the trading week,</p><ul><li>Dow industrial average closed up 0.12%</li><li>S&amp;P index fell -0.16%</li><li>NASDAQ index fell -0.39%</li></ul><p>The declines today were led by Adobe which tumbled -4.23% after the AI high flyer beat on earnings, but forward guidance disappointed. Nvidia – another AI stock – tumbled -3.69%, and Microsoft fell -2.52%. Other chip stocks including AMD (-4.82%), Intel (-2.04%), Taiwan Semiconductor Manufacturing company (-2.43%), and Broadcom (-2.29%) fell sharply.</p><p>Meta (-3.70%), Amazon, -2.98%, Home Depot (-2.50%) and McDonald's (-2.31%) were big losers on the day.</p><p>Disney (+1.3%), American Express (+1.25%), and UnitedHealth (+0.63%) were the only Dow 30 stocks that gained today.</p><p>Auto workers went on strike today, and despite the strike, shares performed better than the market with GM and Stallantis shares up on the day. Ford fell modestly</p><ul><li>GM shares rose 0.83%</li><li>Ford shares fell -0.04%</li><li>Stallantis shares rose 2.12%</li></ul>

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