Dow Jones Live: Coinbase Stock Falls as SEC Prepares to Drop Two-Year Lawsuit

The stock market experienced substantial turbulence today, with several major companies facing challenges that impacted their stock prices.

Dow Jones Index Performance

The Dow Jones Industrial Average (DJIA) also experienced a decline, closing at 44,546.08, down 0.37%

UnitedHealth Under Investigation

UnitedHealth saw its stock fall to its lowest point since April after The Wall Street Journal reported that the Department of Justice is investigating its Medicare billing practices. The stock sank deeper below its 50- and 200-day moving averages, reflecting investor concerns over the potential implications of the investigation. UnitedHealth’s stock closed at $523.51, down 1.44%.

Nvidia Prepares for Earnings Amid DeepSeek Concerns

Nvidia also faced a decline as it prepares for its earnings report next week. The artificial intelligence giant has been troubled by competition from China’s DeepSeek, which claims to achieve AI goals at a fraction of the cost that Nvidia and U.S. tech firms charge.

However, Nvidia CEO Jensen Huang believes the initial reaction to DeepSeek was misguided. In an interview with Barron’s, Huang noted that DeepSeek’s reasoning feature required more “intensive computing” and would ultimately drive up demand for Nvidia’s products. Nvidia’s stock closed at $138.85, up 2.63%.

Coinbase Lawsuit Nears Dismissal

Coinbase experienced a sharp decline after giving up early gains. The company announced that the Securities and Exchange Commission (SEC) will drop a two-year lawsuit that aimed to regulate it as a stock exchange. The matter is pending a final SEC vote, but the news has already impacted the stock’s performance. Coinbase’s stock closed at $65.32, down 3.45%

Growth Stocks on the Downswing

The Innovator IBD 50 (FFTY) exchange-traded fund cratered 7.4%, marking its fourth consecutive decline. This indicates a broader trend of growth stocks being on the downswing.

Hims & Hers Health Impacted by FDA Announcement

A top holding in the Innovator IBD 50 index, Hims & Hers Health (HIMS), plummeted after the Food and Drug Administration (FDA) announced that a shortage in obesity drugs made by rivals Eli Lilly and Novo Nordisk is over. This news has significantly affected the company’s stock, reflecting the market’s response to the new challenges facing its product offerings. Hims & Hers Health’s stock closed at $8.45, down 5.67%.

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