Tech losses drag down Nasdaq and S&P
U.S. Wall Street indices were negatively affected by losses in major technology company stocks, especially with the decline of the Nasdaq and S&P 500 indices, while the Dow Jones Industrial Average gained due to investor interest in industrial stocks. The Nasdaq dropped by more than 120 points, marking its lowest monthly level since March 2025, amid concerns among investors regarding spending on AI projects and chip costs. Apple shares also declined after raising prices for iPads and MacBooks, amid a retreat in stocks of other companies like Nvidia and Microsoft, while MicroVision reported earnings that exceeded Wall Street expectations. Global oil prices rose by 2% following an attack on a cargo ship, impacting expectations for oil flows in the Middle East.
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