The US stock indices are snatching defeat from the jaws of victory. The Dow - from the start - did not really react positively to the better-than-expected Nvidia earnings after the close yesterday.However, the S&P index and the NASDAQ index did move to new record highs earlier today, until stronger than expected S&P/Global PMI sent yields higher. Stocks started to erode its gains. The S&P moved negative. Later the Nasdaq followed suit, and before long the markets snatched defeat from the jaws of victory.An alternative headline might be "Concerns of inflation > Nvidia earnings"At the closing bell:The Dow industrial average fell -608.79 points or -1.53% at 39065.25S&P index fell -39.17 points
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