Stocks retreat from records as Nvidia, ASML lead chipmakers lower

#stocks #inflation #YahooFinance #recession #bitcoin #Biden #Stockmarket #coronavirus #memestocks #Fed #YahooFinance #investing #stockmarket #crypto

To get the latest market news check out finance.yahoo.com

US stocks took a leg lower on Tuesday as investors reacted to downbeat earnings from ASML Holding (ASML) that dropped a day earlier than expected, sending chipmaker stocks lower across the board.

Shares of the leading semiconductor supplier sank around 15% after its earnings, released in an apparent error, showed a disappointing sales outlook for 2025. Nvidia (NVDA) shares fell in tandem, dropping around 4% to slip back from their freshly minted high. AMD (AMD) stock also dipped 4%.

The Dow Jones Industrial Average (^DJI) edged about 0.2% lower on the heels of closing above 43,000 for the first time. The blue-chip index was dragged down by UnitedHealth Group (UNH), which saw shares fall more than 7% after its 2025 profit guidance missed estimates.

Meanwhile, the benchmark S&P 500 (^GSPC) dropped roughly 0.3% to also fall from Monday’s new all-time high, while the tech-heavy Nasdaq Composite (^IXIC) sank around 0.7%.

Investors also assessed a fresh crop of bank earnings before the bell with Goldman Sachs (GS) reporting a 45% surge in third quarter profit from a year ago, thanks to a rise in dealmaking. Similarly, Bank of America’s (BAC) posted an earnings beat amid its own outperformance in investment banking.

As the rush of earnings starts to broaden out, hopes are for further positive surprises in what some on Wall Street suspect could be a tricky season. Shares in Walgreens Boots Alliance (WBA) climbed more than 10% on the heels of its plan to shut 1,200 stores over three years, as the pharmacy chain pursues a turnaround.

Outside of earnings, energy was another major focus. Oil prices tumbled over 4% on a report that Israel is prepared to refrain from bombarding Iran’s crude and nuclear facilities in its response to an attack two weeks ago. West Texas Intermediate crude futures (CL=F) sank to just above $70 a barrel, while Brent crude futures (BZ=F) fell to around $74 following the Washington Post report.

For more on this article, please visit:
https://finance.yahoo.com/news/live/stock-market-today-stocks-retreat-from-records-as-nvidia-asml-lead-chipmakers-lower-103834849.html

source