Overview
- Major U.S. indexes opened lower with the Nasdaq notably weaker after renewed selling in semiconductor stocks pushed tech shares down.
- Investors are doubting whether heavy capital spending on AI infrastructure will generate steady revenue for chipmakers and cloud providers.
- Market participants are watching third-quarter results from big banks such as JPMorgan, Goldman Sachs, Wells Fargo and Citigroup for clues about lending and economic momentum.
- Movements in Treasury yields, oil prices and upcoming inflation readings are shaping expectations about the Federal Reserve’s next interest-rate steps.
- Because many growth stocks depend on projected future earnings, rising yields and weaker chip demand can hit Nasdaq valuations and affect returns for households and funds that hold large tech positions.