export controls.Įnergy stocks advanced as investors shunned growth in favor of value. Meta Platforms ( META) slipped 1.5% amid widespread Facebook, Instagram, and Threads outages.Īdvanced Micro Devices ( AMD) ticked down 0.1% after the Commerce Department said the chip maker would still need a license to sell to China a semiconductor that was specially designed to meet U.S. It rallied the last 30 minutes of the session to close 0.9% higher.Īlbemarle ( ALB) plummeted 17.9% after it announced a $1.75 billion depositary shares offering as it seeks to weather a prolonged slump in lithium demand and prices. Nvidia ( NVDA) was the only stock in the Magnificent Seven to rise on Tuesday. Citizens Financial Group ( CFG) rose 5.2%, Zions Bancorp ( ZION) advanced 4.5%, and Comerica ( CMA) gained 3.8%.
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Target ( TGT) soared 12% after its quarterly earnings topped Wall Street estimates.ĭialysis provider DaVita ( DVA) gained 7.1% after data showed Novo Nordisk’s ( NVO) Ozempic was a less effective treatment for kidney disease than analysts had expected. Amazon ( AMZN) shed 2%.Īpple ( AAPL) fell 2.8% after a report suggested iPhone sales in China fell 24% year-over-year in the first six weeks of the year. It was followed by tech peers Salesforce ( CRM), down 5%, and Microsoft ( MSFT), down 3%. Intel ( INTC) led the index lower, falling 5.4%.
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Walmart ( WMT) gained 1.2% after competitor Target reported better-than-expected earnings. Stocks slipped yesterday, even as semiconductor stocks advanced and Bitcoin soared to trade near its all-time high. Lower yields and the expectation of cuts have boosted gold, which climbed to a record above $2,140 an ounce on Tuesday. Over the last week, the chances of the Fed holding rates steady until July have fallen from 42% to less than 34%, according to federal funds rate trading data. Optimism about when the Federal Reserve with cut interest rates is beginning to creep back in after a series of hot inflation reports last month dashed hopes for a March cut.
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The yield on the 10-year Treasury note fell 7 basis points to about 4.14%, a 3-week low. The cryptocurrency has gained more than 50% this year amid a flood of money into new spot Bitcoin ETFs and anticipation of an impending halving. The Nasdaq Composite dropped 1.7% Tuesday, while the S&P 500 and the Dow Jones Industrial Average each shed 1%.īitcoin climbed above $69,000 Tuesday morning, surpassing its November 2021 record high, before turning sharply lower. 6, 2024: For today's live markets news, see here.Ī tech sell-off sent stock indexes tumbling Tuesday while Bitcoin enjoyed a brief moment of glory, topping $69,000 for the first time before plummeting.