The Nasdaq Composite Index retreated 0.7% as the chip sector struggled to find its footing. Complicating the session, SpaceX shares slid during their debut in the Nasdaq-100, tempering enthusiasm for the rocket maker's inclusion in the benchmark.
In section Market Quotes
Samsung Outlook Misses High Bar as Chip Stocks Retreat
A projected 19-fold surge in quarterly earnings proved underwhelming for Samsung investors, triggering a sharp selloff in South Korea that rippled across global semiconductor markets. The resulting 5% drop in the Kospi index set a pessimistic tone for trading sessions in the United States and beyond.
Heightened geopolitical tension added further pressure to global markets. Brent crude climbed back above $74 a barrel, and European natural-gas prices rose after the Iranian Revolutionary Guard fired on two commercial vessels near the Strait of Hormuz. Investors remain focused on energy volatility as sector performance continues to diverge from tech-heavy indexes.
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