Nasdaq, chip stocks lead Wall Street lower as U.S.-China summit disappoints, yields and oil rise

U.S. stocks fell in early trading on May 15, 2026, as investors took profits in technology shares after a U.S.-China summit produced no major trade breakthrough. The Nasdaq Composite dropped 1.58%, the S&P 500 fell 1.05%, the Dow Jones Industrial Average lost 0.68% and the Philadelphia Semiconductor Index slid 4.11%. Chip stocks led declines after U.S. Trade Representative Jamieson Greer said talks did not focus on semiconductor export controls. Nvidia (NVDA) fell 3.69% to $227.04 after hitting a record on May 14, while TSMC ADRs dropped 3.72% to $402.20. Boeing (BA) declined 2.51% after China’s reported 200-aircraft order was seen as only modestly above prior expectations. Microsoft (MSFT) rose 1.54% after Bill Ackman disclosed a renewed stake. Bond and commodity markets added pressure. The 10-year Treasury yield rose 7 basis points to 4.55%, while the 30-year yield topped 5.1%. Brent crude climbed 2.47% to $108.33 a barrel amid Iran-related tensions, fueling inflation concerns.