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S&P 500 ends down; Apple dips ahead of quarterly report
Tech shares and Apple led the decline as investors awaited earnings and weighed softer oil prices, higher yields and election uncertainty.
- On Monday, major U.S. stock indexes rose as Wall Street recovered from October's weakness, with the S&P 500 gaining 0.6% and the Dow Jones Industrial Average climbing 1%.
- Brent crude prices fell 7.4% to $105.03 on Monday, sparking optimism among investors betting on US-Iran peace deal progress and easing Middle East supply concerns.
- Marvell Technology announced an all-stock deal to acquire Lumentum for roughly $115 billion, though shares in both companies fell as investors weighed the massive AI infrastructure commitment.
- Apple shares dipped 1.5% ahead of quarterly earnings due after the bell, serving as a critical test for technology sector momentum following October's steep declines.
- Tuesday's U.S. midterm elections and lingering concerns over massive AI spending will keep markets cautious, as investors reassess whether technology giants' infrastructure investments justify their valuations.
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Asian stock markets are declining, following increased sales in the US semiconductor industry and increasing investor caution in view of the mid-term elections in the United States. (ANSA)
·Rome, Italy
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AI trade concerns: Tech under pressure on AI jitters, dollar slips: Markets wrap
South Korea’s Kospi Index — a bellwether for AI investments — dropped 3.5%, with chip heavyweight SK Hynix Inc. heading for its lowest close since April. MSCI Inc.’s Asia Pacific Index fell 1%, diverging from Monday’s tech-led gains on Wall Street.
·Mumbai, India
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(New York = Yonhap News) Correspondent Kim Yeon-sook = Major indices of the New York stock market closed mixed on the 2nd (local time).
·Seoul, Korea (the Republic of)
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Total News Sources152
Leaning Left32Leaning Right25Center45Last UpdatedBias Distribution44% Center
Bias Distribution
- 44% of the sources are Center
44% Center
L 31%
C 44%
R 25%
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