U.S. stocks decline as lower tech stocks drag markets

Price ActionMacro
โดย Seeking Alpha·Read original
Summary · why it matters

Wall Street's major indexes were mostly lower on Thursday, with the S&P 500 and the Nasdaq Composite giving back gains from the earlier session amid weakness in global technology stocks. The benchmark S&P 500 was last down 0.6%, while the heavy-tech Nasdaq Composite fell 1.3%, and the blue-chip Dow slipped 0.4%. The technology sector came under pressure after South Korea's Kospi tumbled 7%, weighed down by a selloff in chip stocks, with top decliners including Sandisk, Seagate Technology, Western Digital, and ON Semiconductor. On the economic front, retail sales growth pace slowed in June as gas prices retreated, initial jobless claims unexpectedly fell in the prior week, and the Philly Fed Manufacturing Index blew past forecasts in July. U.S. pending home sales decreased by 5.4% in June, while the one-year U.S. inflation swap rate fell below the Federal Reserve's 2% inflation target for the first time since September 2024.

Impact on stocks 4

Semiconductors▼ · 2 stocks
ON Semiconductor Corporation
ON
▼ NegativeDemandrelevance

South Korea's Kospi tumbled 7% on chip stock selloff, dragging ON Semiconductor lower as a top decliner.

Sandisk Corp
SNDK
▼ NegativeDemandrelevance

South Korea's Kospi tumbled 7% on chip stock selloff, dragging Sandisk lower as a top decliner.

Cloud & Digital Infrastructure▼ · 2 stocks
Seagate Technology PLC
STX
▼ NegativeDemandrelevance

South Korea's Kospi tumbled 7% on chip stock selloff, dragging Seagate lower as a top decliner.

Western Digital Corporation
WDC
▼ NegativeDemandrelevance

South Korea's Kospi tumbled 7% on chip stock selloff, dragging Western Digital lower as a top decliner.

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