Dow, Nasdaq Shed Triple Digits; VIX Snaps Losing Streak

The blue-chip index logged its worst session since March 22

Emma Duncan

Managing Editor

Aug 24, 2023 at 4:27 PM

To no one's surprise, Wednesday's slew of wins was once again short-lived, as all three major indexes suffered steep losses today. Investors made noise surrounding Nvidia's (NVDA) earnings blowout, but it wasn't enough to maintain gains ahead of tomorrow's Fed speech from Chair Jerome Powell at the Jackson Hole Symposium.

Treasury yields were moving higher as well, just days after hitting Monday's 16-year peak. Both the Dow and Nasdaq shed triple digits, the former logging its worst single-session performance since March 22. On the flip side, the VIX snapped its four-day losing streak.

Continue reading for more on today's market, including:

Pre-earning workup of Lululemon Athletica stock.
Chemical giant could stage a fresh rally.
Plus, prep for the last week of August; NKE's record skid; and NVDA earnings buzz.

Closing Indexes Summary Aug 24

NYSE and Nasdaq Stats Aug 24

5 Things to Know Today

Apple (AAPL) is supporting a California right-to-repair bill, marking a major shift in the company's repair policy. (CNBC)
As worker strikes swarmed summer 2023, United Parcel Service (UPS) is one company that finally hit an agreement that includes a 5-year union contract. (MarketWatch)
What to expect for the last week of August.
Record losing streak hits sliding blue-chip.
More on Nvidia's blowout earnings report.

Unusual Options Activity Aug 24

Gold Snaps Win Streak Ahead of Fed Speech

News that crude production may need to be cut even more sent prices slightly higher in Thursday's session. September-dated oil added 16 cents, or 0.2%, to settle at $79.05 per barrel.

Precious metal traders looked wary ahead of tomorrow's Fed speech. December-dated gold lost $1, or almost 0.1%, to settle at $1,947.10 an ounce.

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