Stock Market Recap: Nasdaq 100’s Worst Day Since 2023, Netflix and Nvidia Plunge
The Nasdaq 100, represented by $QQQ, experienced a significant drop of -2.1%, marking its most substantial single-day decline since October 2023.
Both the S&P 500 $SPY and the Nasdaq 100 $QQQ are currently undergoing their longest losing streaks in over a year, with six consecutive days of decline.
The four major indexes, including $SPY, $QQQ, $DJI, and $IWM, closed the week in the red for the third consecutive time, a pattern not seen since September 2023.
The final weekly heatmap of the S&P 500 reflects the overall performance of its constituents.
Netflix $NFLX witnessed its worst day in two years, plummeting by 9% following its Q1 earnings report. Additionally, the company announced its decision to cease reporting quarterly membership numbers and ARM starting from Q1’25 earnings.
Nvidia $NVDA experienced its most significant single-day decline since March 2020, with a staggering -10% drop. This decline resulted in the near erasure of $200 billion in market capitalization within a single trading session.
Super Micro Computer $SMCI experienced a 23% decline today. Its chart illustrates a sixfold surge from January to March, soaring from $200 to $1200. On March 18, it was added to the S&P 500 index. Despite peaking on March 13, $SMCI has since plummeted by 40%.
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