Key points:

  • The S&P 500 and Nasdaq rose despite weak US manufacturing data.
  • A technical glitch at the NYSE led to a temporary suspension of stock trading.
  • Nvidia shares rose 4.9% after announcing a new artificial intelligence platform.

Despite the turbulent trading session, the S&P 500 and Nasdaq indices showed growth on Monday. On the one hand, investors were wary of weak data from the US manufacturing sector. On the other hand, optimism was supported by a temporary suspension of trading on the NYSE caused by a technical glitch, which partially limited the supply of shares.

The Dow Jones Industrial Average fell 115.29 points, or 0.30%, to 38,571.03. The S&P 500 added 5.89 points, or 0.11%, to 5,283.40. The Nasdaq Composite gained 93.66 points, or 0.56%, to 16,828.67.

Why did the New York Stock Exchange crash?

An unexpected technical glitch on the New York Stock Exchange (NYSE) on November 28, 2023 led to widespread fluctuations in the stock prices of Berkshire Hathaway and Barrick Gold, as well as a temporary suspension of trading in at least 60 other securities. The situation has caused concern among investors and led to volatility in the market. The exchange quickly fixed the technical problem and trading was resumed.

At the end of the day, the S&P 500 and Nasdaq indices showed growth, compensating for the morning losses. At the same time, the Dow Jones index closed in the red. Tech stocks led the way, while energy stocks posted the biggest declines.

Investors also kept a close eye on data showing U.S. manufacturing activity slowed for the second month in a row, raising concerns about a possible slowdown in economic growth.

Tech stocks mostly rose, Microsoft and Tesla fell

Nvidia shares posted a strong 4.9% gain after CEO Jensen Huang announced plans to roll out a next-generation artificial intelligence platform in 2026.

In addition to Nvidia, shares of other large technology companies such as Apple, Amazon, Alphabet and Meta showed growth in prices. At the same time, shares of Microsoft and Tesla ended the day lower.

It’s worth noting that GameStop saw a 21% increase in new tab opens following a Reddit post from influencer Keith Gill. In the post, Gill showed off his $116 million bet on shares of the gaming retailer.

Investors will be closely watching a stream of economic data this week, which includes services sector surveys, industrial orders and Friday’s non-farm payrolls report. This data could provide clues about the Fed’s likely actions on rates.

It is important to note that the total volume of shares traded on US exchanges was about 11.5 billion, which is below the average of the last 20 trading days (12.6 billion).