In a noticeable step back from their recent highs, both the S&P 500 and the Nasdaq Composite took a step back on Wednesday, indicating a decreasing enthusiasm in the tech sector, particularly marked by a decline in Nvidia shares.

This past week, the stock market experienced a notable shift in momentum, transitioning from its recent highs to a more passive stance.

The stock market made a strong comeback this week, with the S&P 500 and Nasdaq Composite hitting new highs. This uplift was driven by enthusiasm about slowing inflation and strong performances in the technology sector.

The advent of multiple online investments has led to significant changes in our lifestyle, with mobile devices and apps playing an increasingly prominent role in this context. The financial sector, in particular, has undergone a paradigm shift, with over 80% of domestic securities trading being conducted electronically by 2023, as per the statistics from a stock exchange.

In an unexpected turn from its recent upward trend, the stock market began the week on a quieter note, with the Nasdaq Composite and the S&P 500 stepping back from their latest high points, despite strong performances from major tech companies. The S&P 500 dipped by 0.1%, and the Nasdaq Composite fell by 0.4%, reflecting a more cautious approach from investors fresh off last week’s peaks.

Monday saw a retreat in the S&P 500 as investors shifted focus to key inflation data, with the index stepping back from its recent record highs. The Dow Jones Industrial Average edged lower by 0.1%, while the S&P 500 experienced a 0.3% decline, and the Nasdaq Composite slipped 0.1%. Notably, Amazon made its debut in the 30-stock Dow, replacing Walgreens Boots Alliance, a move expected to reshape the index’s composition and amplify its exposure to the tech and consumer retail sectors.

The recent upswing in global financial markets, fuelled by Nvidia’s remarkable quarterly earnings, underscored the significant impact of artificial intelligence (AI) technology on the financial landscape.

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Inflation trade describes the moves that institutional and retail investors can make in response to high inflation, to protect the value of their portfolios.