The S&P 500 Index ($SPX) (SPY) on Tuesday closed down -0.45%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.25%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.77%. September E-mini S&P futures (ESU26) fell -0.52%, and September E-mini Nasdaq futures (NQU26) fell -1.76%.
Stock indexes settled lower on Tuesday, with the Nasdaq 100 falling to a 1-week low. The broader market was under pressure on Tuesday amid a selloff in chipmakers, following Samsung Electronics' blowout earnings that failed to impress. Samsung, the world’s largest memory maker by market value, closed down more than -8% in South Korea today even after profit surged 19-fold. Semiconductor stocks are facing heightened scrutiny amid lofty valuations as investors question whether hundreds of billions of dollars in spending on artificial intelligence can be sustained.
