Chipmaker Weakness Drags S&P 500 and Nasdaq 100 to Two-Week Lows

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U.S. stock indexes fell, with the S&P 500 and Nasdaq 100 hitting two-week lows, as a global selloff in chipmakers weighed on markets. South Korea's Kospi Index tumbled more than 5% after sharp declines in Samsung Electronics and SK Hynix, triggering a broader retreat in semiconductor stocks. Additional pressure came from a New York Times report that OpenAI may delay its initial public offering until 2027. Losses were cushioned by strength in software shares, while a more than 3% plunge in WTI crude oil eased inflation concerns and supported bonds. In economic data, May wholesale inventories rose 0.3%, missing the 0.4% estimate, and retail inventories increased 0.6%, slightly above the 0.5% forecast.

Impact on assets 34

Semiconductors▲ · 12 stocks
Artificial Intelligence▲ · 8 stocks
Cloud & Digital Infrastructure▲ · 7 stocks
Biotech & Genomic Medicine▲ · 2 stocks
Industrials▲ · 1 stocks
Materials▲ · 1 stocks
Health Care▲ · 1 stocks
Defense & Geopolitical Fragmentation▲ · 1 stocks
Digital Finance & Tokenization▲ · 1 stocks

Off-coverage companies 1

OpenAIPrivate± Mixed
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