ET 10:58

Stocks Fall as Tech Earnings and Shutdown Worry Investors - NASDAQ (^IXIC), S&P 500 (^GSPC) Down

[Para 1: The Lead] Tech-heavy NASDAQ (^IXIC) and S&P 500 (^GSPC) indexes declined as investors processed a surge of tech earnings and a partial government shutdown entering its fourth day. The market reaction underscores concerns over tech sector valuations and fiscal stability. [Para 2-3: Supporting details & Context] Nasdaq Composite (^IXIC) and S&P 500 (^GSPC) indexes fell 0.8% and 0.4% respectively, after initially showing gains. Despite initial optimism, Palantir's (PLTR) strong earnings, signaling robust demand for AI platforms, were overshadowed by broader market worries. AMD's (AMD) earnings report, scheduled for release, is anticipated to provide insights into the AI trade amidst concerns over Big Tech spending. Meanwhile, PayPal (PYPL) and Disney (DIS) saw significant stock movements due to earnings reports and leadership changes. Precious metals, notably gold (GC=F), surged over 6% amid market volatility and geopolitical tensions.

EditorWong Mei Ling