Business · Markets · 43 mins ago
Nasdaq falls 1.07% as technology stocks weigh on Wall Street
US stocks closed mixed on Monday, with the Dow rising about 0.4% while the S&P 500 fell 0.5%.
The Nasdaq, which has many technology companies, dropped 1.07% as chipmakers and other tech shares came under pressure.
Oracle fell 8.85%, while Intel, AMD and other semiconductor firms also lost ground.
Investors were concerned about the cost of expanding artificial intelligence, after recent results and company plans highlighted large spending needs.
This followed a weak October for technology shares and a sharp sell-off the previous Friday.
Investors were also watching US midterm elections and economic data due during the week.
Apple was set to release its quarterly results after Monday’s market close, and the US monthly jobs report was expected later in the week.
Wall Street closed mixed on Monday, with technology shares weighing on the Nasdaq and S&P 500 while the Dow Jones rose.
The Nasdaq fell 1.07% to 25,164.32 points, and the S&P 500 lost about 0.5%.
The Dow gained about 0.4%, supported by consumer and industrial shares.
Oil prices fell sharply amid expectations of diplomatic progress between the United States and Iran, pressuring energy companies.
Investors also weighed concerns about the cost of expanding artificial intelligence businesses and looked ahead to US midterm elections and an October jobs report.
- Who
- Investors and companies trading on Wall Street.
- What
- US stocks closed mixed, with technology shares falling and the Dow rising.
- When
- Monday, November 2, 2026.
- Where
- New York, United States.
- Why
- Technology shares faced pressure amid concerns about AI expansion costs; falling oil prices also weighed on energy shares.
This story does not have two clearly opposing sides.
Investors sold shares on Wall Street, with technology stocks hit by disappointing quarterly results and Intel’s outlook.
US stocks closed mixed, as technology losses weighed on the Nasdaq and S&P 500 while the Dow rose.
Apple was due to report quarterly results.
US midterm elections were scheduled to take place.
- Nasdaq
- Fell 1.07% to 25,164.32 points
- S&P 500
- Fell about 0.5% to around 7,541 points
- Dow Jones
- Rose about 0.4%; outlets reported closing levels of 51,983.98 and 51,986.30
- Oracle
- Fell 8.85% in the reports from El Economista MX and CNN Brasil
- Marvell Technology
- Fell 12.72% according to CNN Brasil; El Economista MX reported a 13% drop
- Oil
- Fell sharply amid expectations of diplomatic progress between the United States and Iran
4 sources
What people are saying
Investors remain ready to buy market dips, but confidence in the technology sector is fragile after a weak October
Investors seem ready to selectively take risks again after the recent setbacks