Nasdaq Ends Lower as Chip Stocks Retreat Amid Rising Yields
US stocks closed lower on Tuesday, led by a sharp decline in the Nasdaq Composite due to falling chip and technology shares. The Nasdaq dropped 1.3%, while the S&P 500 fell 0.7% and the Dow Jones Industrial Average declined 0.2%. Investors are growing cautious about whether AI investments will deliver expected profits, amid concerns over rising global bond yields impacting equity valuations. Higher long-term Treasury yields have added pressure to growth stocks, particularly in technology sectors. The 30-year Treasury yield eased slightly but remains a key focus for investors. Meta was also under scrutiny as it faced legal challenges from state attorneys general alleging misleading claims about safety and privacy on its platforms. Investors are now looking ahead to the retail sector's earnings reports. In other news, several junior mining companies reported progress in exploration projects across North America and Africa.
Tickers: $META
Topics: bond yields chip stocks Meta lawsuit Nasdaq