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U.S. Stock Market Review: All three major U.S. stock indexes closed lower.

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The three major U.S. stock indexes closed lower, with the Dow down 0.09%, the Nasdaq down 0.24%, and the S&P 500 down 0.05%. Chip stocks fell, with the Philadelphia Semiconductor Index down 5.29%, ON Semiconductor down 24% for its biggest single-day drop since 2020, Western Digital down over 13%, Seagate Technology down over 12%, SanDisk down over 10%, NXP and Qualcomm down over 7%, Micron Technology and Applied Materials down over 6%, and NVIDIA down 1.6%. The "Big Seven" tech stocks, except for NVIDIA and Google, all recorded gains: Microsoft up over 5%, Amazon up over 2%, Meta up over 1%, Apple up over 3%, Tesla up 1.2%, and Google down over 2%.
SPYX0.42%
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