Why are the S&P 500, Nasdaq, and the Dow crashing today?
- U.S. stocks fell Tuesday as the S&P 500 dropped 0.9%, the Nasdaq lost 1.8%, and the Dow slipped 84 points.
- Chip stocks dragged the market lower after Monday’s rebound faded, with the iShares Semiconductor ETF down nearly 6%.
- Micron and Broadcom fell again as investors stayed worried that the AI chip rally had moved too far, too fast.
- Oil prices dropped below $90 after fresh comments on the Strait of Hormuz, but weakness in tech still outweighed that relief.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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U.S. stocks opened higher and fluctuated, the Japanese yen rebounded more than 1% intraday, 10-year U.S. Treasury yields broke above 5.22% again, and U.S. crude oil once fell nearly 3%.
After the release of U.S. consumer confidence data, the S&P and Nasdaq turned negative, while the Dow is poised to break a three-day losing streak but is set for a fourth consecutive weekly decline. Meta pulled back, falling more than 3% during the session. The U.S. 10-year Treasury yield surpassed 5.22% again, marking a new high for the third day in a row since 2007, while the 30-year yield reached its highest level since 2004. The yen/dollar pair surged 1.2% intraday, as Japanese and U.S. officials successively signaled concerns over the weak yen. Expectations for a diplomatic resolution between the U.S. and Iran are rising, halting crude oil's two-day climb.
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