US Markets
Home›US Markets›Indices›Nasdaq 100 slips to a 3-week low as chip and AI stocks…
Nasdaq 100 slips to a 3-week low as chip and AI stocks weaken
The move followed a broader selloff pressure after the U.S. imposed a 50% tariff on about $20 billion of Canadian goods, with Canadian retaliation set to start September 8.
U.S. equity markets traded mixed as the Nasdaq 100 fell to a 3-week low, down 1.4% on the day, while the S&P 500 slipped 0.4% and the Dow Jones Industrial Average gained 0.2%. E-mini S&P futures were off 0.4%, and September E-mini Nasdaq futures were down 1.4%.
Yahoo Finance said the market’s weakness centered on declines in chipmakers and AI-infrastructure stocks, weighing on overall sentiment. It also pointed to lingering uncertainty after the collapse of late-Friday Canada-U.S. trade talks, which led the U.S. to apply a 50% tariff on about $20 billion of Canadian goods.
The report noted that Canada announced retaliatory measures on U.S. goods that will take effect September 8. It added that crude oil prices were down more than 2%, helping push lower inflation expectations and bond yields, with the 10-year T-note yield down 2 basis points to 4.71%.
On the macro front, the July Chicago Fed national activity index fell 0.1 points to -0.08, slightly better than expectations of -0.09. The market also looked ahead to a press conference from U.S. Treasury Secretary Bessent, who is expected to outline plans to isolate Iran’s economy, while crude also dipped as reported tanker activity and a reduced shipping threat level in the region were cited.
Latest closeWTI crude $82.40 ▲1.4%|S&P 500 7,785.76 ▼0.2%|Nasdaq Comp. 26,729.16 ▼0.3%