403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
U.S. Stocks End Tuesday with Losses
(MENAFN) Wall Street retreated Tuesday as a sharp decline in semiconductor shares and surging crude oil prices rattled investor confidence, with markets also treading carefully ahead of a crucial wave of Big Tech earnings reports.
The Dow Jones Industrial Average edged down 0.05%, shedding 25.86 points to close at 49,141.93 — a modest retreat after recent gains. The S&P 500 pulled back more decisively, dropping 0.49%, or 35.11 points, to 7,138.8, ending a record-breaking streak from the previous session. The tech-heavy Nasdaq composite bore the steepest losses, tumbling 0.9%, or 223.3 points, to finish at 24,663.8.
Chipmakers led the decline after a Wall Street Journal report revealed that OpenAI's revenue and user growth had missed internal benchmarks. The report further disclosed that Chief Financial Officer Sarah Friar had cautioned senior leadership that the artificial intelligence company could struggle to honor future computing-contract commitments if revenue fails to accelerate sufficiently. Nvidia shed over 1.6%, Broadcom plunged 4.4%, Advanced Micro Devices tumbled 3.4%, Intel dipped 0.5%, and Oracle fell more than 4%.
Caution also gripped markets ahead of high-stakes earnings due from Alphabet, Amazon, Meta Platforms, and Microsoft on Wednesday, followed by Apple on Thursday.
Iran Tensions Fuel Oil Surge
Escalating uncertainty surrounding US-Iran diplomacy drove crude prices sharply higher. President Donald Trump scrapped weekend plans to dispatch special envoy Steve Witkoff and Jared Kushner to Pakistan for ceasefire-related negotiations with Tehran, indicating talks could instead proceed by phone. Iran's Foreign Ministry spokesperson Esmaeil Baqaei confirmed that no direct meeting between Tehran and Washington had been scheduled.
Despite the diplomatic standoff, White House spokeswoman Karoline Leavitt said Monday that Trump and his national security team had reviewed Iran's proposal to reopen the Strait of Hormuz — contingent on a ceasefire and the lifting of a US blockade.
On Tuesday, Trump asserted that Iran is in a "state of collapse" and claimed that Tehran had urged Washington to reopen the strategic waterway "as soon as possible."
West Texas Intermediate crude futures surged 3.3%, breaking above $100 per barrel, while international benchmark Brent crude climbed 2.5% to top $111 per barrel.
European Markets End Mixed
Across the Atlantic, European equities closed in divergent territory. The pan-European Stoxx 600 index slipped 0.37% to 606.58. France's CAC 40 fell 0.46% to 8,104.09, and Germany's DAX eased 0.27% to 24,018.26.
On the upside, the UK's FTSE 100 gained 0.11% to close at 10,332.79. Italy's FTSE MIB advanced 0.77% to 48,040.24, and Spain's IBEX 35 added 0.46% to 17,774.90.
The Dow Jones Industrial Average edged down 0.05%, shedding 25.86 points to close at 49,141.93 — a modest retreat after recent gains. The S&P 500 pulled back more decisively, dropping 0.49%, or 35.11 points, to 7,138.8, ending a record-breaking streak from the previous session. The tech-heavy Nasdaq composite bore the steepest losses, tumbling 0.9%, or 223.3 points, to finish at 24,663.8.
Chipmakers led the decline after a Wall Street Journal report revealed that OpenAI's revenue and user growth had missed internal benchmarks. The report further disclosed that Chief Financial Officer Sarah Friar had cautioned senior leadership that the artificial intelligence company could struggle to honor future computing-contract commitments if revenue fails to accelerate sufficiently. Nvidia shed over 1.6%, Broadcom plunged 4.4%, Advanced Micro Devices tumbled 3.4%, Intel dipped 0.5%, and Oracle fell more than 4%.
Caution also gripped markets ahead of high-stakes earnings due from Alphabet, Amazon, Meta Platforms, and Microsoft on Wednesday, followed by Apple on Thursday.
Iran Tensions Fuel Oil Surge
Escalating uncertainty surrounding US-Iran diplomacy drove crude prices sharply higher. President Donald Trump scrapped weekend plans to dispatch special envoy Steve Witkoff and Jared Kushner to Pakistan for ceasefire-related negotiations with Tehran, indicating talks could instead proceed by phone. Iran's Foreign Ministry spokesperson Esmaeil Baqaei confirmed that no direct meeting between Tehran and Washington had been scheduled.
Despite the diplomatic standoff, White House spokeswoman Karoline Leavitt said Monday that Trump and his national security team had reviewed Iran's proposal to reopen the Strait of Hormuz — contingent on a ceasefire and the lifting of a US blockade.
On Tuesday, Trump asserted that Iran is in a "state of collapse" and claimed that Tehran had urged Washington to reopen the strategic waterway "as soon as possible."
West Texas Intermediate crude futures surged 3.3%, breaking above $100 per barrel, while international benchmark Brent crude climbed 2.5% to top $111 per barrel.
European Markets End Mixed
Across the Atlantic, European equities closed in divergent territory. The pan-European Stoxx 600 index slipped 0.37% to 606.58. France's CAC 40 fell 0.46% to 8,104.09, and Germany's DAX eased 0.27% to 24,018.26.
On the upside, the UK's FTSE 100 gained 0.11% to close at 10,332.79. Italy's FTSE MIB advanced 0.77% to 48,040.24, and Spain's IBEX 35 added 0.46% to 17,774.90.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment