[Wall Street] Nasdaq Falls for Fourth Straight Day as Semiconductors Struggle... NVIDIA Plunges 5%

[Financial News]  

The three major U.S. stock indexes closed mixed on the 27th (local time).
The Dow Jones Industrial Average (DJIA) and the S&P 500 rose for a second consecutive session, while the Nasdaq declined for a fourth straight day.
The Nasdaq was pressured as semiconductor stocks remained under selling pressure, with NVIDIA plunging 5%.
Meanwhile, Elon Musk's SpaceX extended its all-time low trend despite the successful Starship rocket launch over the weekend.

The Dow rose 262.83 points, or 0.51%, from the previous session to close at 52,210.08. The S&P 500, after fluctuating throughout the session on the 24th and again on this day, managed a late gain and posted a second straight advance. It finished up 1.20 points, or 0.02%, at 7,413.18.
The tech-heavy Nasdaq was dragged down by semiconductors and fell for a fourth consecutive day. It closed down 73.74 points, or 0.18%, at 24,932.08.
Although investor sentiment improved after the U.S. halted airstrikes on Iran over the weekend and international oil prices plunged by about 8%, the Nasdaq struggled as semiconductor stocks tumbled. It has fallen for four straight trading days since the 22nd.

Semiconductor stocks remained under heavy selling pressure. Shares of existing chipmakers were hit after ChangXin Memory Technologies (CXMT) in China saw its IPO surge nearly 500%.
Market leader NVIDIA closed at $196.51, down $10.33, or 4.99%.
SK hynix's American depositary receipts (ADRs) plunged $11.55, or 7.47%, to $143.02.
Micron fell $20.75, or 2.25%, to $900.20, while Intel ended the session down $0.65, or 0.70%, at $91.67.
AMD also slid $27.00, or 5.17%, to $494.56.
Broadcom closed up $1.30, or 0.34%, at $383.22.
The iShares Semiconductor ETF (SOXX) fell $10.78, or 2.05%, to $516.23, while the Roundhill Memory ETF (DRAM) ended trading down $0.77, or 1.45%, at $52.43.

Big tech stocks were mixed as NVIDIA dropped 5%.
Tesla closed down $3.81, or 1.22%, at $309.22, and Amazon fell $0.72, or 0.31%, to $231.39.
By contrast, Alphabet jumped $6.82, or 2.13%, to $236.56, and Apple rose $3.89, or 1.17%, to $336.91.
Microsoft gained $7.40, or 1.94%, to $389.10, while Palantir surged $8.61, or 7.00%, to $131.53.
SpaceX extended its all-time low run from the 24th. It closed down $1.57, or 1.36%, at $113.50, 16% below its IPO price of $135.

Quantum computing stocks soared.
The rally was fueled by D-Wave Quantum Inc.'s announcement that it would partner with AT&T.
D-Wave SMS closed at $19.51, up $1.59, or 8.87%.
Market leader IonQ, Inc. jumped $3.08, or 9.38%, to $35.92, while Rigetti Computing, Inc. soared $1.49, or 10.53%, to $15.64.

[email protected] Song Kyung-jae Reporter