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Nasdaq Drops as Chip Fever Breaks
Barrons.com93d agobearish
Nasdaq Drops as Chip Fever Breaks

Chip stocks got beat up after the latest inflation report. The tech-heavy Nasdaq was down 0.7%, the S&P 500 was down 0.2% while the Dow gained 56 points, or 0.1%. Notably, almost all major chip stocks were down, barring Nvidia.

S&P 500, Nasdaq under pressure as chip stocks see red
Yahoo Finance Video93d agoneutralVIDEO
S&P 500, Nasdaq under pressure as chip stocks see red

US stocks (^DJI, ^IXIC, ^GSPC) are mixed ahead of Tuesday's market close as the Nasdaq Composite drops by over 1%, pushed lower by declines in chip stocks. Yahoo Finance Markets and Data Editor Jared Blikre takes a closer look at the market reaction to the April Consumer Price Index (CPI) report released this morning.

Dow Takes a Turn Lower
Barrons.com93d agoneutral
Dow Takes a Turn Lower

After opening little changed, the Dow slid further away from the widely watched 50,000 level. The blue-chip index was down 250 points, or 0.5%. The S&P 500 was down 0.5%, while the Nasdaq was down 0.8%.

Futures Recover Modestly From Inflation Report
Barrons.com93d agoneutral
Futures Recover Modestly From Inflation Report

Major stock indexes are settling in after a bit of volatility this morning. Dow futures have turned slightly positive, while S&P 500 futures are down 0.2%. Nasdaq futures are down 0.6%. Each of these indexes is in a place better than where they were immediately after the inflation report came out.

Inflation Picks Up Faster Than Expected in April
Barrons.com93d agoneutral
Inflation Picks Up Faster Than Expected in April

Consumer prices jumped more than expected in April, a sign that inflation is accelerating as the Iran war's fallout ripples through the economy. The headline consumer price index rose 0.6% from the previous month and 3.8% from a year earlier, above the 0.59% monthly gain and 3.7% annual increase economists had forecast, according to a survey by FactSet. The 3.8% annual increase marks the fastest pace of price growth since May 2023 and is also a notable jump from March, when CPI rose 3.3% year over year.

Stock Futures Dip After Hot CPI Reading
Barrons.com93d agoneutral
Stock Futures Dip After Hot CPI Reading

Stocks continued their downward drift after April inflation data came in higher than expected. S&P 500 futures declined 0.5%, and contracts tied to the tech-heavy Nasdaq 100 dropped nearly 1% right after the report.