Dow Falls 0.35%, S&P 500 Slips 0.02%, Nasdaq Drops 0.15% as Chip Selloff Counters Mixed Bank Earnings and Energy Gains

Mumbai, 14 October 2026: US equities ended Tuesday’s closing session mixed to lower as a fresh selloff in semiconductor shares and a mixed batch of quarterly bank earnings set the tone for trading across major indices. The Dow Jones Industrial Average fell 180.51 points, or 0.35%, to close at 51,670.04, while the S&P 500 slipped 1.79 points, or 0.02%, to 7,805.45.

The Nasdaq Composite declined 41.52 points, or 0.15%, ending at 27,204.38. Memory chip stocks extended losses for a second straight day, while energy shares rallied, reflecting a session where sector-level moves diverged sharply beneath a relatively calm headline performance.

Dow Jones Falls 181 Points as Chip Weakness Offsets Bank Earnings Strength

The Dow Jones Industrial Average opened at 52,092.99 and closed at 51,670.04, registering a loss of 180.51 points, or 0.35%. The index touched an intraday high of 52,317.32 and a low of 51,587.67 during the session. Movements in key constituents shaped the index’s performance, with NVIDIA falling 2.94%, Amazon declining 2.25%, and Microsoft shedding 1.35%.

On the upside, Home Depot advanced 3.39%, Chevron gained 3.12%, and IBM rose 2.77%. The session followed a broader chip-sector selloff triggered by reports of technological advances from China’s CXMT and cautious commentary on AI spending from Broadcom’s chief executive, which weighed on technology-heavy components while financial and consumer names provided partial support.

Among the top gainers within the Dow, Home Depot led with a 3.39% advance, followed by Chevron at 3.12% and IBM at 2.77%. Merck added 2.68% and McDonald’s rose 2.61%. On the losing side, NVIDIA was the biggest drag with a 2.94% decline, while Amazon fell 2.25% and Caterpillar dropped 2.17%. Microsoft lost 1.35% and UnitedHealth declined 1.34%.

S&P 500 Slips 0.02% as Energy Rally Offsets Technology Declines

The S&P 500 opened at 7,795.27 and ended at 7,805.45, recording a marginal loss of 1.79 points, or 0.02%. During the session, the index reached a high of 7,814.15 and a low of 7,786.11. Movements across sectors were sharply divided, with energy shares posting the strongest gains while technology and semiconductor-related constituents lagged. Notable movers included Accenture, which surged 5.96%, Marathon Petroleum at 4.77%, and Valero Energy at 4.65%. On the downside, Oracle fell 5.48%, Corning declined 6.38%, and Applied Materials dropped 2.13%. The index’s closing performance came as investors assessed bank earnings alongside persistent weakness in memory chip stocks.

The top gainers within the S&P 500 included Accenture at 5.96%, Marathon Petroleum at 4.77%, Valero Energy at 4.65%, and Phillips 66 at 4.05%. PepsiCo rose 3.73% and Home Depot added 3.39%. Among the biggest losers, Corning led with a 6.38% decline, followed by Oracle at 5.48%, Sandisk at 4.90%, and Micron Technology at 4.79%.

Nasdaq Composite Falls 0.15% as Semiconductor Shares Extend Losses

The Nasdaq Composite opened at 27,138.73 and closed at 27,204.38, marking a loss of 41.52 points, or 0.15%. Its intraday high stood at 27,277.88, while the low was 27,116.08. Technology and growth-oriented shares recorded mixed movements, with NVIDIA declining 2.94%, Broadcom falling 4.35%, and Micron Technology dropping 4.79%. Intel lost 5.34% and Arm Holdings declined 6.48%. On the positive side, Adobe gained 3.56%, Intuit rose 2.71%, and Netflix added 2.68%. The technology-heavy benchmark responded to a selloff in memory chip stocks after South Korea’s KOSPI index fell 5.5% amid concerns over Chinese competition and elevated AI-related valuations.

The top gainers within the Nasdaq included Adobe at 3.56%, Intuit at 2.71%, Netflix at 2.68%, and Booking Holdings at 2.63%. PepsiCo added 3.73% and Apple rose 1.11%. The biggest losers were Arm Holdings at 6.48%, Intel at 5.34%, Micron Technology at 4.79%, and Broadcom at 4.35%.

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Russell 2000 Declines 0.30% as Smaller Stocks Track Broader Weakness

The Russell 2000 opened at 2,793.50 and closed at 2,785.96, losing 8.52 points, or 0.30%. It recorded an intraday high of 2,801.98 and a low of 2,774.46. Movements among smaller-cap companies reflected the broader market’s cautious tone, with Applied Optoelectronics falling 13.58%, MaxLinear declining 12.72%, and AXT dropping 10.19%. Hut 8 Corp fell 10.87% and Riot Platforms lost 9.17%. On the upside, Haemonetics surged 17.46%, Veradermics gained 14.13%, and Erasca rose 9.49%. The small-cap benchmark’s performance came as weakness in semiconductor and cryptocurrency-linked shares weighed on the index.

Top gainers within the Russell 2000 included Haemonetics at 17.46%, Veradermics at 14.13%, Erasca at 9.49%, and PBF Energy at 6.76%. Zillow Group added 6.93% and Sasol rose 6.62%. The biggest losers were Applied Optoelectronics at 13.58%, MaxLinear at 12.72%, Hut 8 Corp at 10.87%, and AXT at 10.19%.

S&P 100 Edges Up 0.01% as Large-Cap Shares Hold Steady

The S&P 100 opened at 3,888.34 and finished at 3,894.07, recording a marginal gain of 0.35 points, or 0.01%. The index traded between 3,888.03 and 3,900.78 during the session. Movements in major large-cap constituents were mixed, with Apple rising 1.11% and IBM gaining 2.77%, while NVIDIA fell 2.94% and Microsoft declined 1.35%. The index’s flat close reflected offsetting forces, as strength in financial and consumer shares balanced weakness in technology and semiconductor components. The previous close stood at 3,893.72.

Among the top gainers within the S&P 100, Accenture led with a 5.96% advance, followed by Home Depot at 3.39% and Chevron at 3.12%. IBM added 2.77% and Apple rose 1.11%. The biggest losers were Corning at 6.38%, Oracle at 5.48%, Micron Technology at 4.79%, and Broadcom at 4.35%.

Dow Composite, Transport And Utility Indices Reflect Divergent Sector Trends

The Dow Jones Composite Average opened at 16,234.49 and closed at 16,159.52, losing 15.56 points, or 0.10%, after moving between a high of 16,289.35 and a low of 16,109.62. The Dow Jones Transportation Average ended at 19,810.47, compared with an opening level of 19,786.91, representing a gain of 51.39 points, or 0.26%. The Dow Jones Utility Average closed at 1,066.92, rising 7.26 points, or 0.69% from its opening level of 1,062.25. Movements in relevant constituents reflected a session where transportation and utility shares advanced while the broader composite slipped.

Within the Dow Jones Transportation Average, CSX gained 0.98% and Delta Air Lines declined 0.45%. The Dow Jones Utility Average was supported by gains in NextEra Energy and Duke Energy, though specific percentage figures for individual utility constituents were not available in the reference data.

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Philadelphia Semiconductor Index Falls 0.23% as Chip Stocks Extend Slide

The Philadelphia Semiconductor Index (SOX) opened at 11,959.54 and closed at 12,208.80, losing 27.99 points, or 0.23%. Its intraday high was 12,217.21, while the low was 11,861.28. Semiconductor-related constituents recorded broad declines, with Arm Holdings falling 6.48%, Intel dropping 5.34%, and Micron Technology declining 4.79%. Broadcom lost 4.35%, Advanced Micro Devices fell 3.90%, and NVIDIA dropped 2.94%. The sector benchmark’s performance came amid reports of a technological breakthrough by China’s CXMT in memory chip production and cautious remarks from Broadcom’s chief executive on AI spending expectations.

The top gainers within the SOX included Applied Materials at 0.85% and Corning at 0.85%. The biggest losers were Arm Holdings at 6.48%, Intel at 5.34%, Micron Technology at 4.79%, and Broadcom at 4.35%.

NYSE Composite Gains 0.02% as Broader Shares Track Mixed Sector Moves

The NYSE Composite Index opened at 24,035.48 and closed at 23,996.05, recording a gain of 5.32 points, or 0.02%. The index traded between a high of 24,067.61 and a low of 23,897.52 during the session. Movements across market segments were mixed, with energy and financial shares providing support while technology and semiconductor-related constituents weighed. The index’s previous close stood at 23,990.73, and its 52-week range spans 20,906.44 to 24,866.75.

Among the top gainers within the NYSE Composite, PBF Energy rose 6.76% and Sasol gained 6.62%. The biggest losers included Hut 8 Corp at 10.87% and Riot Platforms at 9.17%.

S&P MidCap 400 And SmallCap 600 Edge Higher as Energy Shares Lead

The S&P MidCap 400 opened at 3,655.80 and closed at 3,658.71, moving 3.60 points, or 0.10%, with an intraday range of 3,631.43 to 3,668.66. The S&P SmallCap 600 opened at 1,671.68 and ended at 1,673.09, gaining 1.86 points, or 0.11%, after trading between 1,661.45 and 1,678.20. The two benchmarks reflected movements among mid- and small-cap shares as energy sector strength offset weakness in technology-related constituents. The previous closes were 3,655.11 for the MidCap 400 and 1,671.23 for the SmallCap 600.

Among the top gainers within the S&P MidCap 400, PBF Energy advanced 6.76% and Okeanis Eco Tankers rose 0.66%. The biggest losers included Cipher Digital at 12.77% and Vicor Corporation at 7.24%.

Chip Selloff and Bank Earnings Drive The Session’s Market Direction

The principal market catalyst was the extended selloff in semiconductor and memory chip stocks following reports of a technological advance by China’s CXMT. The Chinese memory maker indicated over the weekend that it plans to produce next-generation chips with greater efficiency, intensifying competition concerns for US chipmakers already facing pressure on AI-related spending expectations.

Micron Technology fell 4.79% to its lowest level since 16 September, its fourth consecutive daily decline, while Sandisk dropped 4.90%, Seagate Technology declined 4.05%, and Western Digital lost 2.99%. South Korea’s KOSPI index closed 5.5% lower, deepening the broader chip-sector rout.

A second catalyst shaping the session was the mixed batch of quarterly earnings from major US banks. Goldman Sachs reported third-quarter revenue of $18.68 billion, exceeding analyst expectations of $16.71 billion, with profit surging 29% year over year. Citigroup posted a 40% increase in third-quarter profit, helped by stronger investment banking and wealth management revenue. Wells Fargo reported earnings per share of $1.87 on revenue of $21.87 billion, while JPMorgan Chase reported a rare miss on expected profits with earnings per share of $5.57 against a forecast of $5.90. UnitedHealth Group exceeded expectations with adjusted earnings of $4.69 per share on revenue of $112.69 billion.

Trading also reflected caution ahead of key inflation data, with the September Consumer Price Index reading due Wednesday and the Producer Price Index scheduled for Thursday. Analysts expect S&P 500 earnings to rise 30.6% in the July–September quarter, led by technology and energy companies, according to LSEG data.

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VIX Rises 0.79% as Market Volatility Indicator Ticks Higher

The CBOE Volatility Index (VIX) changed 0.79% to 15.33, compared with its previous close of 15.21. The index measures expected volatility in the S&P 500 over the coming 30 days. Its movement during the session coincided with the chip-sector selloff and cautious trading ahead of key inflation data. The VIX traded between a low of 15.17 and a high of 15.61 during the session, remaining well below its 52-week high of 35.30 but above its 52-week low of 13.38.

S&P 500 Sectors Show Broadly Mixed Performance Across All 11 Groups

Performance across the 11 S&P 500 sectors was broadly mixed. The Energy sector recorded the strongest move at 1.6%, supported by gains in Marathon Petroleum, Valero Energy, and Phillips 66. The Technology sector was the weakest performer, declining amid the chip selloff, while Communication Services and Consumer Discretionary also posted modest losses.

The remaining sectors recorded the following moves: Information Technology declined 0.8%, Communication Services fell 0.3%, Consumer Discretionary dropped 0.5%, Consumer Staples gained 1.2%, Financials rose 0.4%, Health Care declined 0.2%, Industrials fell 0.3%, Utilities gained 0.7%, Real Estate advanced 0.3%, and Materials edged up 0.2%. The sector movements followed the chip-sector selloff and strength in energy shares.

Magnificent Seven Performance Reflects Mixed Technology Trading

Among the Magnificent Seven, Apple moved 1.11% higher, Microsoft changed 1.35% lower, and NVIDIA recorded a decline of 2.94%. Amazon fell 2.25%, while Meta Platforms edged down 0.06%. Alphabet declined 0.63% and Tesla lost 0.74%. Their daily movements contributed to the performance of major US equity benchmarks, with the technology-heavy Nasdaq Composite posting a modest decline.

Semiconductor, Financial and Energy Stocks Show Mixed Daily Moves

Semiconductor stocks were lower, with the Philadelphia Semiconductor Index moving 0.23% lower. Financial stocks recorded a mixed trend, with Goldman Sachs declining 0.52% and JPMorgan Chase falling 0.48%, while Wells Fargo gained 2.21% and Citigroup rose 0.60%. Energy stocks moved higher alongside changes in crude oil prices, with Chevron gaining 3.12% and Exxon Mobil rising 2.71%. AI and growth stocks were mixed, with Palantir Technologies gaining 2.40% while Oracle declined 5.48%, contributing to the technology-heavy indices’ performance.

Existing Home Sales Rise 1.5% as Inventory Grows, But Mortgage Rates Weigh

The latest economic data showed US existing home sales rose 1.5% in September to a seasonally adjusted annual rate of 3.99 million units, compared with a forecast of 3.95 million units, according to the National Association of Realtors. The increase was driven by rising inventory, which offered buyers more choice across the market. The release provided the latest information on housing market activity during the session.

The gain in sales came despite a subdued trend against the backdrop of higher mortgage rates. The data indicated that while buyers are responding to greater availability of homes, affordability pressures continue to cap the pace of recovery. The 1.5% monthly increase followed a period of uneven demand, with the annual rate remaining below the levels seen during the pandemic-era housing boom. The report was released as markets assessed the trajectory of consumer activity and the impact of elevated borrowing costs on the housing sector.

10-Year Yield Falls 2.51 Basis Points as Fed Signals One More Hike

The Federal Reserve remained a key focus as markets assessed comments from New York Fed President John Williams, who said he still sees one more interest-rate hike as appropriate this year but does not believe it will be necessary for the central bank to increase rates again in 2027. Fed Governor Christopher Waller attributed the rise in Treasury yields to stronger economic growth and large-scale AI investment rather than higher inflation expectations.

The 2-year US Treasury yield rose, while the 10-year Treasury yield fell 2.51 basis points to 5.219%. The 30-year bond yield declined 3.19 basis points to 5.5671%. The yield curve steepened as longer-dated yields followed European bond markets lower while short-dated yields rose on the eve of key US inflation data. The 10-year yield touched its lowest level since 2 October before paring declines. The movement in yields reflected a market balancing expectations of a final rate hike this year against the possibility that the tightening cycle may have run its course. The 2-year yield remained sensitive to near-term policy expectations, while the 30-year yield was influenced by longer-term growth and inflation assumptions.

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Brent Crude Falls 0.7% as Hurricane Shuts 16% of Gulf Daily Output

Brent crude traded at $106, falling 0.7%, while WTI crude stood at $94.40, moving 0.7% higher. Gold traded at $4,157.90 per ounce, declining 0.3%, while silver moved lower. Copper changed modestly. The commodity moves followed supply disruptions in the Gulf of Mexico, where more than 16% of US Gulf oil production was shut in response to Hurricane Isaias, and ongoing geopolitical tensions affecting energy markets.

The disruption to oil production added to concerns about supply tightness, even as demand signals remained mixed. The 16.13% shut-in of daily oil production and 16.59% of daily natural gas production reflected the operational impact of the hurricane on energy infrastructure. Natural gas production also faced disruptions, with personnel evacuated from five production platforms, representing 1.35% of the 371 manned platforms in the Gulf. The dual influence of weather-related supply losses and geopolitical risk kept energy markets volatile, with WTI gaining while Brent slipped, reflecting differing regional dynamics.

Dollar Index Falls 0.36% Today as Fed Comments Weigh on Rate Outlook

The US Dollar Index (DXY) moved 0.36% lower to 102.17, slipping from an 18-month high of 102.61 reached on Monday. EUR/USD stood at 1.16, USD/JPY traded at 149.50, and GBP/USD was at 1.32. Currency movements followed comments from Fed’s Williams on the interest-rate outlook and repositioning ahead of key US inflation data. The dollar’s retreat came as traders assessed the possibility that the Fed may be nearing the end of its tightening cycle, reducing the appeal of the greenback against major peers.

The index had reached its highest level since April 2025 on Monday before the pullback. The move lower was also influenced by a decline in oil prices, which eased some inflation concerns and reduced demand for the dollar as a safe-haven asset. The EUR/USD pair held steady as European bond yields moved lower, while USD/JPY remained supported by divergent monetary policy expectations between the Federal Reserve and the Bank of Japan. The GBP/USD pair traded in a narrow range as markets awaited further clarity on the UK economic outlook.

The closing session was shaped by a semiconductor selloff triggered by Chinese memory chip advances and mixed bank earnings, alongside strength in energy shares. The major US indices finished mixed to lower, while sector, bond, commodity and currency markets recorded the changes outlined above. These figures provide a factual summary of the session and its key market developments.