S&P 500, Nasdaq Close Lower, Dragged by Alphabet and Megacap Tech | Honolulu Star-Advertiser
Alphabet fell 6.1% as investors weighed U.S.-Iran talks and awaited this week’s key inflation data, while semiconductor shares hit record highs.
- On Monday, the S&P 500 and Nasdaq closed lower, dragged by declines in megacap technology stocks including Alphabet, as investors assessed U.S.-Iran negotiations where officials reported "encouraging progress" in Switzerland.
- Alphabet tumbled more than 6% after Nobel laureate John Jumper announced his departure for AI startup Anthropic, heightening investor concerns about hyperscaler capital spending on infrastructure expansion.
- SpaceX shares tumbled 16.4%, their biggest single-day drop, while Apogee Therapeutics jumped nearly 47% after AbbVie announced a $10.9 billion acquisition and Getty Images Holdings Inc. soared about 119% following an OpenAI partnership.
- Treasury yields remained elevated as the market adjusted to a hawkish Federal Reserve under Chair Kevin Warsh, with analysts noting a divide between memory chip recipients and AI infrastructure funders.
- Micron Technology's quarterly results on Wednesday will test the market rally, while Thursday's personal consumption expenditures data offers insight into the Federal Reserve's preferred inflation gauge.
16 Articles
16 Articles
SpaceX, Alphabet lead US tech rout
Tech stocks fell Monday even as the US projected optimism about ongoing peace talks with Iran. SpaceX continued a multi-day rout following an announcement last Thursday that the firm would launch an inaugural bond sale just days after its blockbuster IPO. Alphabet was also on track for its worst performance in a year after two of Google DeepMind’s key employees jumped ship, including a Nobel Prize winner who is joining Anthropic. But analysts re…
S&P 500, Nasdaq close lower, dragged by Alphabet and megacap tech | Honolulu Star-Advertiser
The S&P 500 and the Nasdaq closed down today, dragged by declines in the megacap technology stocks, including Alphabet, while investors assessed developments in Iran negotiations.
New York Stock Market Closes Mixed as Tech Stocks Fall Despite Progress in U.S.-Iran Negotiations. The three major stock indices on the New York Stock Exchange closed mixed. Despite news that negotiations between the U.S. and Iran are making progress, big tech stocks fell across the board as concerns grew over the cost of investing in artificial intelligence (AI) infrastructure. (Local time, 22nd)
The Straits Times
S&P 500, Nasdaq close lower, dragged by Alphabet and megacap tech; focus on Iran
The S&P 500 lost 27.79 points, or 0.37 per cent, while the Nasdaq Composite lost 351.33 points, or 1.32 per cent, to 26,166.60. Read more at straitstimes.com.
Times of India
The Economic TimesUS stocks: S&P 500, Nasdaq close lower, dragged by Alphabet and megacap tech; focus on Iran
US market saw a mixed close as the S&P 500 and Nasdaq dipped, primarily due to tech giants like Alphabet facing investor scrutiny over AI spending. The Dow, however, edged higher, supported by healthcare and industrial gains. Falling oil prices offered some relief, but a hawkish Federal Reserve stance and upcoming inflation data are keeping investors cautious about future rate hikes.
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