---
title: "S&P 500 turns negative, Nasdaq 100 pares gain to 0.5%."
description: "S&P 500 turned negative while Nasdaq 100 gained 0.5%. Tech sector experienced a selloff driven by disappointing earnings from Nvidia. 10-year Treasury yield rose to a 2024 high of 4.63% as investors s"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/202726780.md"
published_at: "2024-04-24T14:46:08.000Z"
---

# S&P 500 turns negative, Nasdaq 100 pares gain to 0.5%.

> S&P 500 turned negative while Nasdaq 100 gained 0.5%. Tech sector experienced a selloff driven by disappointing earnings from Nvidia. 10-year Treasury yield rose to a 2024 high of 4.63% as investors scaled back expectations for rate cuts.

S&P 500 turns negative, Nasdaq 100 pares gain to 0.5%.

  
The U.S. stock market experienced a mixed performance on Monday, with the S&P 500 and Dow Jones Industrial Average both turning negative, while the Nasdaq 100 managed to eke out a 0.5% gain \[1\]. The tech-heavy Nasdaq's slight advance came amid a broader selloff in the technology sector, with more than half of the "Magnificent Seven" tech megacaps set to report earnings next week \[2\].

The S&P 500 closed slightly below the 5,000 mark, having experienced a two-day decline of 2.6%—the most significant since early 2023 \[4\]. The Dow Jones Industrial Average also ended the day down 0.3% \[1\]. Conversely, the Nasdaq 100 managed to recover from earlier losses, with notable gains from Microsoft Corporation (MSFT) and Apple Inc. (AAPL) \[3\].

The tech sector's selloff was led by Nvidia Corporation (NVDA), which tumbled 10% on Friday following disappointing earnings results \[2\]. Other notable tech stocks, such as Super Micro Computer Inc. (SMCI), also experienced significant declines \[2\].

The 10-year Treasury yield continued to rise, touching a 2024 high of 4.63% \[4\]. Investors have been scaling back expectations for Federal Reserve interest rate cuts this year amid concerns over inflation and the potential for further economic growth.

In summary, the S&P 500 turned negative on Monday, with the Nasdaq 100 barely eking out a gain as the technology sector experienced a broad selloff. The tech sector's performance was driven by disappointing earnings results from companies such as Nvidia, while the 10-year Treasury yield continued to rise.

References:  
\[1\] "LIVE UPDATES | CONCLUDED: Stock Market News, Monday, March 4, 2024: Dow Edges Lower." Barrons.com. March 4, 2024. https://www.barrons.com/livecoverage/stock-market-today-030424/card/s-p-500-turns-positive-on-pace-for-another-record-kwTdBHpUBz7WMpFSzb8h  
\[2\] "‘Mag Seven’ Get Crushed Before Next Week’s Results: Markets Wrap." Bloomberg.com. April 18, 2024. https://www.bloomberg.com/news/articles/2024-04-18/stock-market-today-dow-s-p-live-updates  
\[3\] "The S&P 500 and Dow Jones Industrial Average both turned negative in afternoon trade ahead of a jobs report for March that could help inform the Federal Reserve's path to lower interest rates." MarketWatch.com. April 3, 2024. https://www.marketwatch.com/livecoverage/stock-market-today-dow-futures-rise-as-bond-yields-steady/card/s-p-500-joins-dow-in-turning-negative-hF0AxCbaIdzOgatmeNhy?mod=mw\_quote\_news  
\[4\] "Ines Ferré Stock market today: S&P 500 falls back under 5,100 as Big Tech leads stock slide." Yahoo Finance. April 3, 2024. https://finance.yahoo.com/news/live/stock-market-today-sp-500-falls-back-under-5100-as-big-tech-leads-stock-slide-200056673.html

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
