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A sell-off in semiconductors pulled stock indexes away from record levels.
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The loss was led by Dutch chipmaker ASML, which lost 17% on Tuesday.
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The decline overshadowed the banks’ earnings results, which were better than expected.
Chip makers’ stocks halted a decline on Tuesday after a recent rally, pulling the indexes back from record levels reached in the previous session.
The tech-heavy Nasdaq fell 1% as Tuesday’s session dealt a double blow to the semiconductor industry.
The largest technology company in Europe, ASMLSector-wide gloom set in when… It posted disappointing earnings and cut 2025 guidance. Shares of the Dutch chip machine maker fell by 16%.
Meanwhile, a report that the United States is considering imposing export restrictions on certain chip sales heightened investor anxiety, sending the broader chip sector lower. Nvidia It fell more than 5%, while Broadcom fell more than 3%, and Taiwan Semiconductor Manufacturing Corp fell more than 2%.
The rout drew attention from the banking sector’s performance on Tuesday, as earnings from Goldman Sachs, Bank of America and Citigroup beat earnings estimates.
Meanwhile, oil prices also made waves during the day, falling as geopolitical tensions between Israel and Iran eased below a worst-case scenario. Although Israel plans to respond to a previous Iranian missile strike, it has told the United States that it will focus only on military targets.
Brent crude, the international index, fell by up to 5% in real-time trading.
Here is where US indices stand at the closing bell at 4:00pm on Tuesday:
Here’s what else happens:
In commodities, bonds and cryptocurrencies:
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West Texas Intermediate The price of crude oil fell by 3.78% to $71.04 per barrel. Brent crudeThe international benchmark index fell by 3.52% to $74.73 per barrel.
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gold It rose 0.62% to $2,682.1 per ounce.
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The yield on the 10-year Treasury note fell four basis points to 4.03%.
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Bitcoin It rose 1.30% to $65,825.
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