Nvidia reached another milestone in its rise to becoming one of the world's most important companies: the first publicly traded company to reach a market value of $4 trillion. Nvidia and other companies benefiting from the boom in artificial intelligence have been a major reason the S&P 500 has recently climbed to a record.

U.S. stocks fell Friday after President Trump said he would impose a 35% on some Canadian imports, spooking the markets. The S&P 500 declined 0.33 %, and the Dow fell 0.63 %. Nvidia hit a $4.02 trillion record valuation,