Chip Stocks Resume Declines
US stock indices were mostly lower on Tuesday amid fresh worries about data center financing ahead of key earnings results. The S&P 500 edged lower and the Nasdaq 100 fell almost 1%. South Korean AI-infrastructure provider Elice plunged 32% following its IPO in Seoul, the latest in a series of signals that markets have grown fatigued by the soaring levels of financing that chipmakers and data center operators are asking for. CoreWeave sank 5%following the plunge in its bonds last week. Micron, Marvell, and Arm were nearly 3% lower. Meanwhile, SpaceX dropped 1% ahead of its recently announced earnings results due after the closing bell, which may have been brought forward to enable another capital raise. On the other hand, traditional economic sectors consolidated following losses yesterday, lifting the Dow to a 0.3% gain. Walmart, ExxonMobil, and Eli Lilly rose over 1%.
US stock indices were mostly lower on Tuesday amid fresh worries about data center financing ahead of key earnings results. The S&P 500 edged lower and the Nasdaq 100 fell almost 1%. South Korean AI-infrastructure provider Elice plunged 32% following its IPO in Seoul, the latest in a series of signals that markets have grown fatigued by the soaring levels of financing that chipmakers and data center operators are asking for. CoreWeave sank 5%following the plunge in its bonds last week.
Micron, Marvell, and Arm were nearly 3% lower. Meanwhile, SpaceX dropped 1% ahead of its recently announced earnings results due after the closing bell, which may have been brought forward to enable another capital raise. On the other hand, traditional economic sectors consolidated following losses yesterday, lifting the Dow to a 0.3% gain. Walmart, ExxonMobil, and Eli Lilly rose over 1%.