Last week, a ferocious surge in tech stocks helped the S&P 500 close above 5,000 for the first time ever and set a new record on the Nasdaq 100.Individual tech stocks have also surged to all-time highs due to the euphoria around AI, with Nvidia’s stock market value breaking beyond a $2 trillion valuation for the first time ever.
Astonishing performance has been mirrored in Asia by Japan’s Nikkei 225, whose stock market index recently crossed 40,000 points on Monday.
Dispelling the hype around artificial intelligence, expecting a drop in interest rates globally, and, more specifically for the cryptocurrency world, approving bitcoin ETFs.
The Nasdaq 100 set a new record last week, and the S&P 500 closed above 5,000 for the first time ever thanks to a ferocious run in tech companies. Individual tech stocks have also experienced unprecedented price increases due to the euphoria surrounding AI, with Nvidia’s stock market value shattering a $2 trillion valuation for the first time ever.
But since then, Wall Street stocks have declined as investors’ concerns about borrowing rates have grown.
Asia’s Nikkei 225 has mirrored an astounding performance, with the nation’s stock market index surpassing 40,000 points for the first time on Monday. This comes after the Nikkei soared over its peak in 1989 last month, primarily due to strong earnings and changes in corporate governance.