S&P 500 movers: NVIDIA Corp (NVDA: NASDAQ) falls sharply from record highs

Wall Street's main indexes suffer heavy losses on Thursday.
Tech shares among biggest decliners as flight-to-safety takes over.
Cruise liner shares gain traction on coronavirus vaccine hopes.

Eren Sengezer FXStreet

The S&P 500 Index (SPX) notched a new record high for the eighth straight day on Wednesday but came under strong selling pressure on Thursday. Despite the upbeat macroeconomic data releases from the US, the lack of progress regarding the next coronavirus aid bill seems to have triggered an overdue correction in the US stock markets. As of writing, the SPX was down 3.15% on a daily basis at 3,467. Additionally, the 11 major sectors of the SPX were

S&P 500 top movers

Technology shares, which registered impressive gains during the latest risk rally, are among the worst performers on Thursday. At the moment, NVIDIA Corp (NVDA: NASDAQ) shares slump by nearly 9% at $523.37. Moreover, Qorvo Inc (QRVO: NASDAQ), Juniper Networks Inc (JNPR: NYSE), Skyworks Solutions Inc (SWKS: NASDAQ), Zebra Technologies Corp (ZBRA: NASDAQ) and Advanced Micro Devices Inc (AMD: NASDAQ) shares are down between 8.9% and 7.9%.

On the other hand, heightened optimism for a coronavirus vaccine toward the end of the year seems to be helping major cruise liners' shares gain traction. Carnival Corp (CCL: NYSE), Norwegian Cruise Line Holdings Ltd (NCLH: NYSE), Royal Caribbean Cruises Ltd (RCL: NYSE) shares are gaining between 5.5% and 4%.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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