The NASDAQ index was up 245.13 points at its session highs this morning, and moved to down -10.47 points.
It is currently trading up 32 points or 0.18% at 18115.90.
Helping to contribute to the declines was a report from the Wall Street Journal that Super Microcomputers was under investigation for accounting irregularities:
Super Micro Computer (SMCI) is being investigated by the Justice Department following a report by Hindenburg Research.
The probe is in its early stages and focuses on accounting violations allegedly connected to a former employee.
The former employee, Bob Luong, filed a whistleblower lawsuit against Super Micro and its CEO.
Super Micro paid $17.5 million to settle SEC claims of accounting violations in 2020.
The company has yet to file its fiscal 2024 annual report with the SEC.
CEO Charles Liang denied the short-seller report’s accuracy.
Shares of SMCI are trading down $50 or -10.77% at $408.
The Dow industrial average is still up 200 points or 0.48%. The S&P index is up 17.51 points or 0.3%
This article was written by Greg Michalowski at www.forexlive.com.
