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Chips lead Nasdaq lower, oil tops 5-month high: AlphaCheck
Yahoo Finance • • business
Key Points:
- Stocks showed mixed performance on Tuesday as semiconductor stocks, including Nvidia and AMD, retreated after a prior rebound, while oil prices rose amid Middle East tensions.
- Brent crude oil futures approached a five-month high near $110 per barrel, and WTI traded just below $100 following attacks by Houthi rebels on Saudi Arabia.
- The tech sector declined, with memory chipmakers Micron and SK Hynix also falling as the AI-related rally lost momentum.
- CoreWeave shares dropped again after a brief rebound, continuing concerns over AI financing risks.
- Investors focused on earnings reports from GM, GE Aerospace, and RTX Corporation, with SpaceX, Tesla, and Meta scheduled to report later this week.
