Dow Falls 0.3% While Memory Chip Stocks Keep the Nasdaq Afloat
Why is the Dow down 200 points while the Nasdaq holds flat? Two chipmakers are doing a lot of heavy lifting for the tech-heavy index.
The Dow Jones Industrial Average saw a decline of 0.3%, or approximately 200 points, while the Nasdaq Composite managed to stay positive despite memory chip stocks. The S&P 500 dipped by 0.17%. The Nasdaq opened in positive territory but later drifted toward breakeven. Memory chip stocks, particularly SK Hynix and Micron Technology, experienced significant gains, adding around $83 billion in market value.
Nvidia also saw a slight rise of 0.9% due to financing plans for an OpenAI data center. However, tech giant Meta Platforms fell 3.3% ahead of a federal trial. Microsoft weighed heavily on all three major indexes as the S&P 500's biggest drag. Despite the Dow's decline, memory stocks proved to be a positive highlight for the Nasdaq market.
Written by urgent.news from Yahoo Finance's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
