The Nasdaq Composite fell 1.47% to 25,882, the S&P 500 slipped 0.51% to 7,534, and the Dow Jones Industrial Average edged 0.20% lower to 52,553 as global technology stocks extended a sell-off. Micron Technology plunged almost 6%, leading a broad decline in memory names, while Taiwan Semiconductor Manufacturing Company shares dropped despite record earnings amid concerns about artificial intelligence spending. Space Exploration Technologies fell below its initial public offering price just weeks after its market debut, and Abbott Laboratories surged over 10% on strong earnings. Gold prices fell 1.85% to $3,972.75, and the 10-Year Treasury yield inched up 0.01% to 4.56%. A Bank of America fund manager survey showed 45% of respondents viewed an AI bubble as the largest tail risk facing markets.
Taiwan Semiconductor Manufacturing Co. Ltd.
Micron Technology Inc
Abbott Laboratories