The major indices are closing lower, and also lower for the week. The declines come after both S&P and NASDAQ indices reached new all-time high intraday levels.

The final numbers are showing:

• Dow industrial average -68.68 points or -0.18% at 38722.70
• S&P index -33.67 points or -0.65% at 5123.68
• NASDAQ index -188.27 points or -1.16% at 16085.10.

The small-cap Russell 2000 also fell by -2.02 point or -0.10% at 2082.71

For the trading week

• Dow industrial average, -0.93%
• S&P index, -0.26%
• NASDAQ index, -1.17%

The Russell 2000 was the only positive with a gain of 0.304%

Nvidia fears extended close to the $1000 level reaching $974 before reversing sharply to the downside in closing at $875.35. The low for the day reached down to $865.06 for a huge range of close to $110.

Conversely Apple shares snapped a seven day decline with a gain of $1.75 or 1.04% to $170.70.

Other losers today included:

• Super Micro Computers -1.73%
• Palo Alto Networks -2.23%
• Dell -3.53%
• Meta -1.22%
• ARM holdings -6.65%
• Broadcom, -6.99%
• Intel -4.66%
• Crowdstrike -2.07%
• Costco -7.64%
• Micron -1.37%
• Taiwan Semiconductor , -1.90%

This article was written by Greg Michalowski at www.forexlive.com.