Stock Market Today: Dow Lower After Bank Earnings; Walgreens, Nvidia, Charles Schwab, and More Movers; Oil Prices Drop

LIVE UPDATES

Last Updated:

Oct. 15, 2024 at 12:58 PM EDT

1 hour ago

2 hours ago

3 hours ago

4 hours ago

6 hours ago

1 hour ago

Connor Smith

Most of the S&P 500 was holding up well on Tuesday, but chip stocks were dragging the index down in the wake of ASML Holdings’ surprise earnings report.

The market benchmark was down 0.4%, but 351 of the stocks in the index were rising. The Invesco S&P 500 Equal Weight ETF, which is influenced evenly by every stock in the S&P 500, was up 0.3%. The Nasdaq Composite was down 0.8% despite 55% of its stock rising.

Then there were chip stocks. The iShares Semiconductor ETF was down 3.9%. KLA was the worst stock in the S&P, down 9.8%. Applied Materials was down 8.4%. Lam Research was down 7.4%. Nvidia and Advanced Micro Devices were down 5% and 4.4%, respectively.

ASML Holding, which triggered the chip stock selloff with its quarterly report that came out a day early, was down more than 15%. The firm’s results impacted the sector because they make extreme ultraviolet (EUV) lithography machines used by manufacturers of advanced semiconductors.

The Dow was down for a different reason. The blue-chip index fell 143 points, or 0.3%, because its largest stock, UnitedHealth Group, was down 7.2%.

A small decline in Nvidia shares picked up speed Tuesday after ASML’s earnings appeared to leak out.