U.S. Stock markets experienced a broad decline Thursday, with the S&P 500 falling 1.05%, the Dow Jones Industrial Average dropping 1.02% and the Nasdaq Composite declining 1.47%. The downturn occurred despite positive performance from some individual companies, notably Walmart, which saw a 2.80% increase, and Alphabet, rising 1.12%.
The S&P 500, a benchmark of U.S. Stock market performance comprising the top 500 companies by market capitalization, currently stands at a total market capitalization of $62.06 trillion, according to stockanalysis.com. The index includes approximately 80% of the total U.S. Stock market capitalization.
Nvidia remains the largest company within the S&P 500, with a market capitalization of $4.55 trillion, despite a 1.52% decrease in its stock price Thursday. Apple follows in second place with a market capitalization of $3.83 trillion, experiencing a more significant decline of 5.34% on the day. Microsoft, Alphabet, and Amazon round out the top five, with market capitalizations of $2.99 trillion, $3.76 trillion and $2.13 trillion respectively.
The performance of individual companies within the index varied significantly. While Walmart and Alphabet posted gains, Tesla experienced a 2.71% decrease, and Meta Platforms, Inc. Fell 2.57%. Exxon Mobil also saw a decline, dropping 3.21%.
According to SlickCharts, Nvidia currently holds the largest weight within the S&P 500 at 7.33%, followed by Apple at 6.17% and Microsoft at 4.82%. These weightings reflect the significant influence these companies have on the index’s overall performance. The S&P 500 has undergone numerous changes since its inception, with 1,186 components replaced between 1963 and 2014, as companies grow, shrink, or are acquired.
The index currently contains 503 stocks, including two share classes for Alphabet, Fox Corporation, and News Corp. Lilly (Eli) has seen a substantial increase, with a 3.05% rise in its stock price, bringing its market capitalization to $937.78 billion.
JPMorgan Chase & Co. Experienced a 2.59% decrease, while Bank of America Corporation fell 2.34%. Procter & Gamble and Chevron Corporation also saw declines, dropping 1.16% and 1.43% respectively.
