Nvidia remains weak: US stock markets cannot defend initial gains

There is no recovery. Although it initially looked as if the US stock markets were going to rise today, the optimism quickly evaporated. The Dow Jones quickly gave up its initial gains and recently stagnated. Nvidia shares, on the other hand, continued their recent losing streak.

The Dow recently lost 0.1 percent to 43,425 points. The broad market S&P 500 fell by half a percent to 5,952 points. The Nasdaq 100 came under greater pressure and lost a good one percent to 21,112 points.

The market's caution regarding Nvidia's business figures and forecasts is reflected in the stocks' losses: since Friday they have lost up to ten percent at their lowest point. With a loss of 2.2 percent, they were the biggest loser in the Dow index on Tuesday. Other tech heavyweights in the Dow such as Salesforce, Amazon and Microsoft also fell.

The top performer in the Dow was Home Depot with a gain of 2.7 percent. The home improvement chain benefited from increasing demand in the fourth quarter, said analyst Michael Lasser of the UBS bank. Following in Home Depot's footsteps, Walmart gained 2.2 percent.

As Bitcoin fell, related stocks such as Coinbase, Microstrategy and Riot Platforms suffered losses of up to 10 percent. At times, the cryptocurrency had slipped to its lowest level since mid-November. Stock market traders pointed to a hacker attack on the crypto exchange Bybit as the reason.

Zoom shares were also a clear loser, falling by 9 percent. RBC expert Rishi Jaluria said the video conferencing specialist had a positive annual result. However, weak targets for the new fiscal year were criticized.

Shares in pharmaceutical giant Eli Lilly gained 3 percent. Investors welcomed lower prices for the weight-loss drug Zepbound. Eli Lilly wants to use this approach to fend off cheaper imitation products.

Contains material from dpa-AFX