Apple's 3% Slide Knocks Dow Down 188 Points, but Chips Lift Nasdaq Before Midterms
Apple's weak margin outlook and soft iPad sales dragged the Dow down 188 points, but tech investors weren't hiding. The Nasdaq Composite rose 0.4% as chipmakers Micron, Nvidia, AMD, Broadcom and Intel rallied, and oil slipped on hopes for US-Iran progress. Prediction markets now give Democrats about a 75% chance of taking the Senate.
The Dow took a 188-point hit Tuesday, dropping 0.4%, as Apple fell 3% on a weak margin outlook and soft iPad sales. The S&P 500 managed a 0.1% gain. The Nasdaq Composite climbed 0.4%, and the Nasdaq-100 added 0.5%, though it remains in correction mode, more than 10% below its recent peak.
Chipmakers powered the tech rebound. Micron jumped 4%, while Nvidia, AMD, Broadcom and Intel each gained about 3%. Traders were buying back into technology ahead of the US midterm elections.
Oil cooled as investors watched for signs of progress in US-Iran talks. Brent fell 1%, sitting near 103 dollars a barrel, and US crude slipped below 95 dollars.
The election is the next big market trigger. Betting markets see Democrats with roughly a 75% shot at taking the Senate. If Democrats sweep, AI shares could feel heat on Wednesday; a Republican hold might send markets higher.
TopicsApple · Dow · Nasdaq Composite · Micron · Nvidia · AMD · Broadcom · Intel
Source: coinpedia.org
Written by Paparazzi with AI. Not financial advice.
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