Day Traders Diary

5/20/25

The major averages drifted lower with the big tech-led rally losing steam with the S&P 500 snapping a six-day winning run. The Dow Jones Industrial Average lost 114 points, or 0.27% to 42,677. The S&P 500 fell 23 points or 0.39% to end at 5,940 while the Nasdaq Composite lost 72 points or 0.38%.

Investors dumped tech stocks, which had led the run over the past six days. The sector lost 0.5%. Nvidia slid 0.9%. Advanced Micro Devices, Meta Platforms, Apple and Microsoft also dropped.

The S&P 500 has rallied more than 20% since hitting an April low on the back of President Donald Trump's tariff announcement. It now is about 3% from its record high.

In the bond market, the 10-year yield advanced 1 basis point to 4.485% after topping 4.5% on Monday before easing. The 30-year Treasury yield was last 3 basis points higher at 4.969% after briefly surging past 5% on Monday.

In the commodity space, oil was quiet while gold rose nearly 2% and bitcoin rose 1.2% to over $106,000 a coin.