Overview

• The Dow fell 0.34%, the S&P 500 lost 0.40% for a fifth straight decline, and the Nasdaq dropped 0.34%, with only materials and energy finishing higher within the S&P 500.
• Selling in major technology names persisted after an MIT analysis questioned near‑term AI payoffs and following Sam Altman's comment that AI stocks are in a bubble.
• Walmart shares sank about 4% after quarterly earnings missed profit expectations, pulling on the Dow and S&P 500 despite higher full‑year sales and earnings guidance.
• Political pressure on the Federal Reserve intensified as President Donald Trump called for Governor Lisa Cook to resign, a demand reported without accompanying charges or official comment.
• Mexico's S&P/BMV IPC rose 0.76% as Banxico minutes pointed to a possible 25 bp cut at the next meeting, while Grupo Herdez surged 31.5% after selling half its stake in McCormick, prompting brief trading halts.