S&P 500 posts first losing day in 3 as Nvidia’s climb fails to lift market, Dow drops 400 points: Live updates

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What does Bill Gates know about this tiny company that we don't? From the outside, it looks like a worthless $2 stock… But according to Bill Gates… This company is working on a unique technological innovation that is going to change the world as we know it… “…as revolutionary as the personal computer, the Internet, and the mobile phone. It will change the way people work, learn, travel, and communicate with each other.” And it's not just him… Powerful companies like Microsoft, Intel, and Google are all quietly racing to be at the forefront of this new phenomenon… But it's this tiny company who holds the keys to what could be a $7 Trillion Revolution… >>Click here to discover why Bill Gates is all about this tiny $2 stock.


By Alex Haring and Pia Singh, CNBC.com

Stocks slid Wednesday as pressure from rising Treasury yields outweighed a continued rally in artificial intelligence darling Nvidia.

The Dow Jones Industrial Average fell 411.32 points, or 1.06%, to 38,441.54. The S&P 500 dipped 0.74% to 5,266.95, marking its first negative session of the last three. The Nasdaq Composite slipped 0.58% to 16,920.58, as Nvidia’s advance somewhat mitigated losses for the technology-heavy index.

Nvidia climbed 0.8%, reversing an early loss of 2.6%. The megacap tech name has risen every trading session since issuing its blockbuster earnings report last Wednesday. Since then, the stock has surged roughly 21%.

All 11 sectors that comprise the broad S&P 500 retreated, underscoring the breadth of market weakness. More than 440 stocks in the index were lower on the day.

In all, 27 of the 30 stocks in the Dow fell. Insurance provider UnitedHealth led the blue-chip average lower with a slide of more than 3% following management commentary around its Medicaid business. Other stocks tied to the federal health insurance program dropped, including Molina HealthcareHumana and Elevance Health.

Wednesday’s move lower comes as the 10-year Treasury note yield ticked higher for a second day, last trading above 4.6%. The benchmark yield popped to troublesome levels for stock investors following a Treasury Department auction on Tuesday that was met with weak demand. Higher yields can lower the multiples investors are willing to pay for stocks, drive up borrowing costs, hurt consumer spending and make T-bills and money market funds more attractive.

“Today is really all about interest rates,” said Adam Turnquist, chief technical strategist at LPL Financial, adding that the 10-year and 2-year yields have touched “uncomfortable levels.” “That all is creating some angst among investors.”

While there has been a choppy start to the shortened week, the major averages are on track to close the month with notable gains. The S&P 500 is up 4.6% in May, while the Dow has advanced about 1.7%. The Nasdaq has climbed more than 8% this month.

The advances arrive even as traders have lowered their expectations for Federal Reserve rate cuts. Indeed, fed funds futures trading data suggests a nearly 54% chance that rates will hold steady in September, according to the CME FedWatch Tool.

Investors are asking: “What is the summer going to deliver? And is the macro environment really changing?” said Shelby McFaddin, investment analyst at Motley Fool Asset Management. “The year is moving quickly. And some of the things that were expected to happen, the probability of them happening is decreasing.”


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Few people know its name, but Intuitive Surgical was one of the five best stocks of the last 20 years. It went up as much as 18,000% in two decades. Why? Because it used new technology – surgical robotics – to drive sales sky high. Now… another company is following its path. The company is tiny today – just $500 million – but it is in position to grow dramatically. In short, it is the inventor of the world's first AI-designed drug to enter clinical trials. And big pharma is lining up to use its patent-protected technology.

  • Merck is collaborating with them on three projects that could generate up to $674 million in revenue.
  • French pharma giant Sanofi agreed to pay the company up to $5.2 billion to develop 15 new drugs.
  • Bristol Meyers Squibb signed a $1.2 billion partnership with the company.

You can see… each one of these projects is worth more than the entire market cap of this new AI stock! In short, the upside is MASSIVE. Which is why I wanted to send you this video.

It comes from one of the great stock pickers of all-time – a man who actually recommended Intuitive Surgical in real time back in 2004. In fact, he called 4 of the top 6 performing stocks from 2000 to 2020. And he says this new company is the #1 AI Stock Under $10. Watch his free video breaking down the situation here.

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Thanks to a little-known IRS loophole, regular Americans can collect up to $28,544 (or more) in payouts from what is called “Amazon’s secret royalty program”…
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Elon Musk's "Project Omega"

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The #1 Trade For 2023

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Every Investor Should Have This $3 AI Stock On Their Radar

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Project An-E

Breakthrough A.I. Just Predicted What the Stock Prices of Tesla, Nvidia, and Apple Will Be 30 Days from Now…
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