The S&P 500 Index ($SPX) (SPY) today is down -0.67%, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.38%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -2.14%. September E-mini S&P futures (ESU26) are down -0.68%, and September E-mini Nasdaq futures (NQU26) are down -2.13%.
Stock indexes are falling today, with the Nasdaq 100 dropping to a 1-week low. The broader market is under pressure today, led by a selloff in chipmakers, after Samsung Electronics' blowout earnings 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. However, strength in software stocks today shows investors are rotating funds into other sectors and is a supportive factor for the overall market.
