Overview
- The Dow Jones dropped over 500 points on April 18, capping a week of significant losses across major U.S. indices.
- The S&P 500 fell 1.5%, while the Dow and Nasdaq each declined by more than 2% during the holiday-shortened trading week.
- UnitedHealth's stock plunged 22% following a disappointing quarterly earnings report, marking one of the steepest individual declines.
- Nvidia faced a $5.5 billion charge due to tightened U.S. export controls on AI chips to China, further pressuring its stock.
- Eli Lilly provided a rare bright spot, with its shares surging 14% after releasing promising results for a new weight-loss drug.