The US stock market experienced a mixed session on Tuesday, with the Dow Jones Industrial Average briefly touching an all-time high before closing down. The S&P 500 fell 0.59% to close at 6,411.37, while the Nasdaq Composite shed 1.46% to settle at 21,314.95.
The tech sector led the decline, with Nvidia shares plummeting 3.5%, Advanced Micro Devices dropping 2.8%, and Palantir falling 10%. The downturn was attributed to a combination of factors, including concerns over AI spending, trade risks, and a slowing growth rate.
However, some stocks in the tech sector managed to rise despite the overall decline. Palo Alto Networks jumped 6% after its quarterly results topped expectations, while Intel surged 5% following an announcement from SoftBank that it would invest $2 billion in the company.
The housing market also showed signs of improvement, with new construction figures reaching a seasonally adjusted annual rate of 1.428 million, up 5.2% from the previous month.
In other news, Treasury Secretary Scott Bessent announced that interviews for the next Federal Reserve chair will begin after Labor Day, and Home Depot reported disappointing second-quarter results despite maintaining its full-year outlook.
Source: https://www.cnbc.com/2025/08/18/stock-market-today-live-updates.html