Stock Market Update
05-Aug-25 11:00 ET
Major averages continue early slide
Dow -172.80
at 44000.84,
Nasdaq -110.01
at 20942.19,
S&P -32.21
at 6297.73
[BRIEFING.COM] The major averages continue to retreat below their opening levels amid increased selling activity.
The information technology sector (-1.0%) faces additional pressure in its semiconductor components after President Trump stated in a CNBC interview that he will soon announce separate tariff rates for semiconductors and chips.
NVIDIA (NVDA 176.14, -3.86, -2.1%) is down as a result, and the PHLX Semiconductor Index posts a loss of 1.9%.
Underperformance in semiconductor stocks is masking a notable gain in Palantir Technologies (PLTR 173.11, +12.46, +7.8%), which reported strong Q2 earnings and an impressive 48% increase in revenues year-over-year. The company also issued upside revenue guidance for Q3 and FY25.
