ISTANBUL
US stocks ended mostly lower Tuesday, weighed down by declines in major technology shares.
The Nasdaq slid 1.46 percent, or 314.82 points, to 21,314.95. The Standard and Poor’s 500 dropped 0.59 percent, or 37.78 points, to 6,411.37. The Dow Jones Industrial Average edged up 0.02 percent, or 10.45 points, to 44,922.27. The VIX, known as Wall Street’s fear index, climbed 3.87 percent to 15.57.
Chipmakers and other tech companies led the losses. Nvidia sank 3.5 percent, AMD dropped 5.5 percent, and Broadcom fell 3.6 percent. Palantir plunged 9.5 percent, while Netflix, Tesla, and Meta declined between 1.7 and 2.5 percent. In contrast, Intel jumped nearly 7 percent after SoftBank announced a two-billion-dollar investment in the chipmaker. Home Depot shares gained 3.2 percent as the retailer reaffirmed its full-year sales forecast despite reporting weaker-than-expected earnings.
In trade developments, the Commerce Department expanded 50 percent tariffs on steel and aluminum imports to cover 407 additional product categories. The list now includes machinery, building materials, fire extinguishers, and specialized chemicals.
On the policy front, Treasury Secretary Scott Bessent said he will begin interviewing candidates for the Federal Reserve chair position after September 1. He confirmed the list contains 11 names, including current and former Fed officials, economists, a White House adviser, and Wall Street executives.
Economic data showed US housing starts rose 5.2 percent in July to 1.43 million, topping expectations. Investors now await Fed minutes on Wednesday and Jerome Powell’s speech at Jackson Hole on Friday for signals on a possible rate cut next month.
NEWS DESK
PRESS UPDATE