{"id":6495,"date":"2026-10-14T00:35:52","date_gmt":"2026-10-14T00:35:52","guid":{"rendered":"https:\/\/digitalmarkettrends.com\/index.php\/2026\/10\/14\/dow-closes-170-pts-lower-as-chip-stock-sell-off-continues\/"},"modified":"2026-10-14T00:35:52","modified_gmt":"2026-10-14T00:35:52","slug":"dow-closes-170-pts-lower-as-chip-stock-sell-off-continues","status":"publish","type":"post","link":"https:\/\/digitalmarkettrends.com\/index.php\/2026\/10\/14\/dow-closes-170-pts-lower-as-chip-stock-sell-off-continues\/","title":{"rendered":"Dow closes 170 pts lower as chip stock sell off continues"},"content":{"rendered":"
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US stocks ended mixed on Tuesday as investors assessed third-quarter earnings from major banks and continued selling memory chip stocks following a sharp decline in South Korea’s equity market.<\/p>\n

The S&P 500 finished nearly flat, slipping 0.02% to 7,805.83, while the Nasdaq Composite fell 0.15% to 27,203.53. <\/p>\n

The Dow Jones Industrial Average declined 0.33%, or 173.10 points, to 51,677.45, giving back gains after rising more than 460 points earlier in the session.<\/p>\n

Investors weighed mixed results from JPMorgan Chase, Wells Fargo, Goldman Sachs and Citigroup as the earnings season gathered pace. <\/p>\n

Meanwhile, concerns over Chinese competition and chip valuations pressured semiconductor shares.<\/p>\n

Bank earnings put investors on alert<\/h2>\n

JPMorgan Chase reported third-quarter net income and revenue below analysts’ expectations<\/a>, although it raised its 2026 net interest income guidance. Its shares fluctuated during the session as investors assessed the results.<\/p>\n

Wells Fargo shares<\/a> fell about 2% after the bank reported mixed results. Earnings per share exceeded expectations, but revenue and net interest income came in below analysts’ forecasts.<\/p>\n

Goldman Sachs shares edged higher after the bank reported stronger-than-expected third-quarter revenue and profit. <\/a>Citigroup, which also exceeded profit estimates<\/a>, saw its shares decline.<\/p>\n

The early results from major lenders are drawing attention as investors assess whether companies can meet elevated earnings expectations. <\/p>\n

Analysts expect S&P 500 third-quarter earnings to increase by more than 30% from a year earlier, according to LSEG data, with artificial intelligence-related technology companies expected to contribute significantly to growth.<\/p>\n

UnitedHealth shares were marginally higher after the health insurer reported results that exceeded analyst expectations. Apple also reached an intraday record high.<\/p>\n

Semiconductor stocks extend their decline<\/h2>\n

Chip stocks remained under pressure after South Korea’s Kospi index dropped 5.5% on Tuesday, reaching its lowest level since July 31. <\/p>\n

Concerns over valuations and growing competition from China weighed on the market.<\/p>\n

Chinese memory chipmaker CXMT said it planned to release a more powerful chip by the end of the year<\/a>, adding to concerns about competition in the memory market.<\/p>\n

Micron Technology and Applied Materials fell sharply, while Seagate Technology and Western Digital also declined. <\/p>\n

SanDisk lost more than 2%, and South Korean chipmaker SK Hynix fell nearly 4%. Broadcom, however, rose.<\/p>\n

The PHLX Semiconductor Index fell for a fifth consecutive session and lost more than 8% over the past five trading days. Despite the recent declines, the index remained up more than 70% year to date.<\/p>\n

The weakness in semiconductor shares weighed on the Nasdaq, which has benefited from technology and AI-related stocks during the broader market rally.<\/p>\n

S&P 500 holds near record levels as earnings take focus<\/h2>\n

The S&P 500 has gained about 14% in 2026, supported by AI-related technology stocks. <\/p>\n

However, gains have not been evenly distributed across the index, with the median stock up less than 5% and more than 200 constituents lower for the year.<\/p>\n

The index was trading at less than 19 times expected earnings, its lowest forward valuation since 2023, according to the provided market data.<\/p>\n

Investors have also been monitoring elevated Treasury yields, inflation concerns, and the impact of high oil prices amid the US war with Iran. <\/p>\n

Strong earnings expectations have helped offset some of these pressures.<\/p>\n

Other individual stocks moved on company-specific developments. <\/p>\n

Bumble jumped after agreeing to a $1.3 billion deal to go private<\/a>, while Domino’s Pizza fell after reducing its full-year sales outlook. <\/p>\n

Johnson & Johnson shares also declined despite the company reporting better-than-expected profits.<\/p>\n

With more corporate results due, investors will continue assessing whether earnings growth can support equity valuations amid pressure on semiconductor stocks and broader economic uncertainty.<\/p>\n

The post Dow closes 170 pts lower as chip stock sell off continues<\/a> appeared first on Invezz<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

US stocks ended mixed on Tuesday as investors assessed third-quarter earnings from major banks and continued selling memory chip stocks following a sharp decline in South Korea’s equity market. The S&P 500 finished nearly flat, slipping 0.02% to 7,805.83, while the Nasdaq Composite fell 0.15% to 27,203.53. The Dow Jones Industrial Average declined 0.33%, or […]<\/p>\n","protected":false},"author":1,"featured_media":6496,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-6495","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock"],"_links":{"self":[{"href":"https:\/\/digitalmarkettrends.com\/index.php\/wp-json\/wp\/v2\/posts\/6495","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digitalmarkettrends.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digitalmarkettrends.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/digitalmarkettrends.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/digitalmarkettrends.com\/index.php\/wp-json\/wp\/v2\/comments?post=6495"}],"version-history":[{"count":0,"href":"https:\/\/digitalmarkettrends.com\/index.php\/wp-json\/wp\/v2\/posts\/6495\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digitalmarkettrends.com\/index.php\/wp-json\/wp\/v2\/media\/6496"}],"wp:attachment":[{"href":"https:\/\/digitalmarkettrends.com\/index.php\/wp-json\/wp\/v2\/media?parent=6495"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digitalmarkettrends.com\/index.php\/wp-json\/wp\/v2\/categories?post=6495"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digitalmarkettrends.com\/index.php\/wp-json\/wp\/v2\/tags?post=6495"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}