[New York Stock Market] All Three Indexes Fall on Middle East Uncertainty; Intel Soars 9%

[Financial News]  

The three major U.S. stock indexes all fell on Aug. 8 (local time).
International oil prices continued to rise amid concerns over supply disruptions, approaching $100 per barrel and weighing on investor sentiment.
However, individual stocks showed sharply divergent performances.
Intel soared more than 9% after announcing that its foundry business had reached a milestone, while Tesla jumped nearly 4% on expectations for its Cybercab.

The New York stock market struggled amid rising oil prices when it reopened four days after the Labor Day holiday.
Among the three major indexes, the Dow Jones Industrial Average (DJIA) posted the steepest decline. The DJIA closed at 52,786.07, down 628.18 points, or 1.18%, from the previous session. The drop was largely driven by Amgen, a biotechnology company, which plunged more than 10%. NVIDIA’s decline of more than 2% also contributed to the index’s fall.
The S&P 500 fell 45.08 points, or 0.58%, to 7,673.52, while the Nasdaq lost 85.58 points, or 0.32%, to close at 26,421.41.

Intel reached a milestone in its foundry business on Aug. 8.
In a joint announcement with ASML, Intel said it had processed more than 1 million wafers cumulatively using a High-NA EUV lithography system. The system was actually applied to mass-production layers for Panther Lake, its latest next-generation CPU. This demonstrated that the equipment had been successfully commercialized, dispelling the conventional view that its high cost and difficulty in achieving acceptable yields would hinder adoption.
Analysts say Intel has secured a lead of at least two to four years over Samsung Electronics and TSMC, which continue to rely on existing Low-NA equipment. The company appears to have taken the lead in ultra-fine process technology.
As a result, Intel shares surged $8.67, or 9.05%, to $104.47.

Tesla, led by Elon Musk, and SpaceX both posted strong gains.
Tesla jumped $14.08, or 3.98%, to $368.16, while SpaceX rose $5.52, or 3.73%, to close at $153.47.
By contrast, NVIDIA fell $4.63, or 2.01%, to $225.73, while Alphabet slipped $0.10, or 0.03%, to close at $338.36.
Apple dropped $3.75, or 1.17%, to $316.22, while Palantir Technologies fell $4.03, or 2.31%, to $170.30.
Meta Platforms, which unveiled Muse, a consumer artificial intelligence (AI) agent application, fell $3.29, or 0.53%, to close at $613.48.
Meanwhile, Qualcomm, which formed an AI alliance with Amazon, jumped $5.35, or 3.17%, to $174.09. Amazon, however, fell $1.54, or 0.60%, to close at $256.97.

[email protected] Kyung-jae Song Reporter