Tech Stocks Pull Down US Market on Mixed Day

stocks (News Central TV) stocks (News Central TV)

Wall Street opened with a mixed start to trading on Tuesday, with many high-growth tech stocks giving up ground following a rally the day before.

The previous day’s optimism was driven by hopes that Congress would approve a deal to end the US government shutdown.

Key tech companies saw declines, led by Nvidia, whose shares dropped 2.5% after SoftBank disclosed it had sold $5.8 billion in Nvidia stock to invest in other technology firms.

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Shares of Google parent Alphabet and Microsoft also fell.

Stocks (News Central TV)
Tech stocks pull down the US market on a mixed day. Credit: The Economic Times

The tech-heavy Nasdaq Composite Index was down 0.5 per cent shortly after the open.

However, the Dow Jones Industrial Average managed a gain of 0.2 per cent, while the broader S&P 500 slipped 0.2 per cent.

Analysts suggested that the lofty valuations of AI-focused companies were likely prompting investors to take profits from large-cap tech holdings.

The government shutdown is nearing a resolution, which is expected to trigger the release of several delayed US economic reports soon.

Markets were open despite federal offices being closed for the Veterans Day holiday.

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  • Abisoye Adeyiga

    Abisoye Adedoyin Adeyiga holds a PhD in Languages and Media Studies and a Master’s in Education (English Language). Trained in digital marketing and investigative journalism, she is passionate about new media’s transformative power. She enjoys reading, traveling, and meaningful conversations.

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