Shares of Qualcomm Inc. QCOM, +0.04% slid 2.00% to $124.98 Thursday, on what proved to be an all-around dismal trading session for the stock market, with the S&P 500 Index SPX, -1.06% falling 1.13% to 3,901.35 and Dow Jones Industrial Average DJIA, -0.75% falling 0.56% to 30,961.82. Qualcomm Inc. closed $68.60 below its 52-week high ($193.58), which the company achieved on January 5th.
The stock underperformed when compared to some of its competitors Thursday, as Alphabet Inc. Cl A GOOGL, -0.47% fell 1.99% to $102.91, NVIDIA Corp. NVDA, +1.31% fell 1.52% to $129.29, and Cisco Systems Inc. CSCO, -0.38% fell 1.52% to $43.29. Trading volume (7.4 M) eclipsed its 50-day average volume of 7.3 M.
Goldman Sachs chief markets economist Dominic Wilson and global markets strategist Vickie Chang crunched the numbers on what it would mean if Fed has to take a more aggressive path than the market is forecasting.
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