Nasdaq and S&P 500 Close Lower as Chip Stocks Drop; Bitcoin Nears $80,000
On Monday, August 24, 2026, the Nasdaq Composite and S&P 500 both closed lower amid a decline in semiconductor stocks. The Dow Jones Industrial Average rose slightly by 0.3%. Major chip manufacturers such as Sandisk (SNDK), Western Digital (WDC), SK Hynix (SKHY), Micron Technology (MU), Seagate Technology (STX), and Samsung Electronics saw significant drops, with the latter falling nearly 9% in South Korean trading. Crude oil prices fell by over 2%, influenced by U.S. sanctions on Iran. Treasury yields remained elevated but showed minor declines. Gold futures rose slightly to around $4,700 an ounce. Bitcoin surged near its three-month high of $80,000 after rising more than 15% in the previous week. Nvidia (NVDA) shares dropped nearly 3%, following a Bloomberg report about potential price hikes for AI chip servers scheduled to ship early next year.
Tickers: $AMAT $AMD $INTC $MRVL $MU $SKHYV $SNDK $STX $WDC
Topics: Bitcoin Crude Oil Dow Jones Nasdaq S&P 500 Semiconductors