The S&P 500 made history by trading above 6,000 for the first time, while the Dow Jones Industrial Average surged above 44,000 following Donald Trump’s election and the Federal Reserve’s interest-rate cut. These milestones resulted in the large-cap benchmark index reaching a new record high, showcasing the impact of significant events on the stock market.
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Why AMD Stock Plummeted Today
Advanced Micro Devices (AMD -7.42%) experienced a significant stock price decline of 7.4% amid broader market downturns, hitting a low of 10.5% during the session. The drop was influenced by AMD's announcement of an effective ban on sales of its MI308X processor to China, leading to an anticipated $800 million write-down, alongside rising costs due to TSMC's planned 30% price increase on 4nm chips. Additionally, escalating U.S.-China trade tensions and cautious remarks from Federal Reserve...
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