U.S. equities lost momentum Thursday, with the S&P 500 and Nasdaq Composite reversing from fresh record highs to close in the red. A sharp selloff in software stocks and renewed geopolitical tensions overshadowed strength in select energy-linked and industrial names.
Technology stocks bore the brunt of the downturn, with earnings disappointments and macro concerns triggering broad selling:
ServiceNow plunged ~18%, the session’s worst performer, after warning that Middle East tensions are weighing on subscription growth.
IBM dropped ~8%, despite posting an earnings beat, as investors showed little tolerance for unchanged guidance.
Microsoft fell ~4% amid reports of workforce buyouts tied to rising AI costs.
Tesla slid ~3.5%, extending post-earnings weakness as heavy AI spending plans raised concerns about near-term cash flow.
Lululemon Athletica declined ~6% after naming a new CEO, a move that failed to reassure investors.
Despite the broader selloff, several stocks posted gains:
American Airlines rose ~4%, even after cutting its full-year profit outlook, as investors looked past rising fuel costs.
Oklo gained ~5% following a partnership announcement with Nvidia focused on AI-driven nuclear research.
Intel edged ~2% higher ahead of its earnings release, bucking the broader tech downturn.
🚀TradingRockets: The Ultimate Automation Tool for Serious Traders
Turn TradingView alerts into instant trades on MT4, MT5 & NinjaTrader (<1 sec execution)
✅ Copy trading made easy - be a Master or Follower
✅ Trade once, replicate across multiple prop firm accounts in one click
✅ Smarter. Faster. Fully automated.
Stocks finished higher on Wednesday, with the S&P 500 and Nasdaq Composite hitting record highs after easing tensions in the Middle East. The Dow Jones Industrial Average also moved up.
U.S. stocks edged lower Monday as rising geopolitical tensions in the Middle East sent oil prices sharply higher, snapping the Nasdaq’s 13-session winning streak and weighing on key sectors.Major indexes closed modestly in the red:
The pullback came as crude oil surged more than 5% amid renewed conflict involving the U.S. and Iran, reigniting inflation concerns and pressuring equities.
