U.S. Stock Market Sees Mixed Results With Significant Losses In Tech Sector

According to BlockBeats, on January 28, the U.S. stock market closed with mixed results. The Dow Jones Industrial Average saw a preliminary increase of 0.6%, while the S&P 500 Index fell by 1.4%, and the Nasdaq Composite dropped by 3%. Notably, Nvidia's shares plummeted nearly 17%, resulting in a market value loss of approximately $600 billion, marking the largest single-day market cap drop in U.S. stock history. The Philadelphia Semiconductor Index experienced a significant decline of 9%. Among the major tech companies, Broadcom's shares fell by 17.4%, Taiwan Semiconductor Manufacturing Company (TSMC) saw a 13% decrease, and Microsoft shares dropped by 2%.