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Nvidia, chipmakers lead Nasdaq, S&P 500 lower even as Dow waversMarket breadth on Wall Street was on the positive side on Thursday, as despite a 0.5% fall on the S&P 500, more than 350 of its constituents ended with gains. By Hormaz Fatakia   February 27, 2026, 4:47:38 AM IST (Published)2 Min ReadA fall in shares of Nvidia Corp., along with its chipmaking peers, despite a blowout quarter and guidance that surpassed expectations, dragged the S&P 500 and Nasdaq lower on Thursday, February 26, and negated an otherwise positive market breadth.

The Dow Jones recovered over 260 points from the lows of the day to end just above the flat line, but was also down nearly 350 points from the highs of the day. The S&P 500 fell 0.5% after a 50-point recovery, while the Nasdaq ended 1.2% lower, while its intraday losses were as high as 1.7%.

Market breadth was on the positive side on Thursday, as despite a 0.5% fall on the S&P 500, more than 350 of its constituents ended with gains.

Nvidia fell 5.5% despite strong earnings and guidance as multiple uncertainties continue to cloud the Wall Street darling for the AI theme. Concerns over its business in China, a sharp jump in potential obligations, its $100 billion deal with OpenAI are just some of them. The stock's fall took other chipmakers AMD, Broadcom, Intel and TSMC down with it, all of whom fell between 3% to 3.5%.

The recovery in the benchmark indices though, came later in the session after progress was indicated in talks between the US and Iran in Geneva, which led to oil prices paring some of their gains. Despite that, Brent is still up 18% so far in the first two months of 2026.

The biggest trigger today will be the Trump administration facing its first major tariff refund deadline after the courts had given the Department of Justice (DoJ) time till February 27 to weigh in on the Supreme Court's decision from last week. Over 2,000 cases have been filed in the Court of International Trade (CIT) for expedited refunds after the apex court ruling.

The US Dollar index continues to hover around the mark of 98, while Gold and Silver prices remain quiet, after a very volatile first half of the month.

Elsewhere, Netflix shares surged 10% in extended trading after it dropped its bid for Warner Bros. Discovery, as the latter had deemed Paramount's bid to be higher and under consideration.Continue ReadingTagsDow JonesNASDAQNvidia share priceS&P 500Wall Street