US equities closed lower, with tech-heavy Nasdaq leading declines after weak sentiment from Samsung’s earnings weighed on chip and AI shares.
Major US indices ended the session in the red, led by the Nasdaq Composite, which fell 1.16% or 302.47 points. The index remained negative throughout the day, peaking at a loss of 111.14 points. The S&P 500 also closed lower by 0.45%, while the Dow Jones Industrial Average erased early gains to finish down 0.25%.
Chip and AI-related stocks underperformed following Samsung’s earnings report, which beat expectations but failed to lift sentiment. Samsung shares dropped 6.92%, dragging the South Korean Kospi index down 4.91%. Notable decliners included Intel, down 9.66% to $110.39, and Marvell Technology, which fell 7.45% to $230.70.
The selloff extended across semiconductor and AI stocks, with KLA Corporation, AMD, and Arm Holdings all posting losses exceeding 6%. The broader market reaction reflected concerns over tech sector momentum despite Samsung’s year-to-date gains of nearly 150%.