S&P 500 Drops to 7,530, 4% Off Record as Nvidia Slides 17% From High
AI Market Summary
The S&P 500 at 7,530 sits 4% below its record and beneath its 50-day average, with a double-top neckline at 7,507 signaling seller control. AI leaders are de-rating sharply—Nvidia down 17.2% from highs, Alphabet 31%—as capex commitments, widening losses at OpenAI and Anthropic, and rising Oracle/CoreWeave yields fuel bubble warnings. Strong 30% blended earnings growth and an 18.7 forward P/E offer valuation support, but upcoming megacap results are the key near-term catalyst.
Impact level
● High
Affected assets
NCSISP5002USD/USDT+0.05%
AI Insight · NCSISP5002USD/USDTAI Insight
▼ Bearish
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The S&P 500 fell to 7,530 on Friday, 4% below its record and its lowest close since September 16, as AI concerns weighed on megacaps despite solid earnings. Nvidia dropped to $201, down 17.2% from its year to date high. With 60% of companies reported, FactSet puts blended earnings growth at 30%, while the index forward P/E has fallen to 18.7, under its five year average of 19.8.
