Tech-heavy losses drag Wall Street lower as S&P 500 slips 0.2% and Nasdaq falls 0.7%
AI Market Summary
Weaker-than-expected ISM manufacturing and slower input-price growth pulled the 10Y yield back to 4.47%, easing financial-conditions pressure and lifting gold. However, large-cap AI semis (e.g., Micron, AMD, Nvidia) extended a valuation-driven pullback, dragging the Nasdaq lower despite broad S&P 500 participation. Oil fell on increased expectations of U.S.-Iran de-escalation and improved Strait of Hormuz access, reducing inflation-risk tailwinds.
Impact level
● Medium
Affected assets
NCSINASDAQ1002USD/USDT-1.15%
AI Insight · NCSINASDAQ1002USD/USDTAI Insight
● Neutral
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U.S. manufacturing data from the Institute for Supply Management came in weaker than expected, easing inflation concerns and pulling the 10-year Treasury yield down to 4.47%. Gold rebounded 1.1% to $4,082.40 per ounce as yields retreated. Expectations that the U.S.-Iran war could ease and the Strait of Hormuz could reopen weighed on oil, sending Brent down 1.9% to $71.57 a barrel. AI chipmakers including Nvidia and Micron fell in a move described as a technical pullback rather than a new fundamental catalyst.
