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US stocks: Nasdaq ends down as chipmakers fall and bank earnings roll in
Source: Economic Times · 3 hr ago
Summary
The Nasdaq fell after chip stocks kept dropping, while big banks reported mixed earnings. The PHLX chip index slid sharply, raising concerns about competition in the sector. Analysts remain hopeful that future AI‑related earnings could boost the market.
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From the original report
In a recent trading session, the Nasdaq index took a hit as chip stocks continued their downward spiral, amid diverging results from major banks like Citigroup and Goldman Sachs. The PHLX chip index faced a substantial decline, sparking fears surrounding competition in this sector. Despite the turbulence, analysts express optimism about future earnings linked to AI-driven innovations.
Excerpt from Economic Times.
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