US Stocks Slip Amid Semiconductor Weakness

2026-10-13 20:11 By Isabela Couto 1 min. read

US stock indices closed lower on Tuesday as many semiconductor heavyweights extended their recent losses.

The S&P 500 ended near the flatline, while the Dow shed 180 points and the Nasdaq fell 0.3%.

China’s CXMT advanced a new memory architecture, threatening US and South Korean rivals.

Broadcom CEO Hock Tan also warned that excessive AI lab spending could deliver poor returns, sending Micron (-4.6%), SanDisk (-1.7%), Lam Research (-3.2%) and Applied Materials (-7.2%) lower.

Meanwhile, Johnson & Johnson sank 5.6% on weaker sales, while UnitedHealth gained edged 0.3% lower despite upgrading its profit outlook.

Financial stocks posted mixed results.

Citigroup fell 5.3% despite strong revenue, and Wells Fargo slipped 2.6% following its earnings report.

Goldman Sachs shed 0.1% despite stronger equity-trading revenue, while JPMorgan edged 0.3% lower as weaker fixed-income trading and higher costs offset an increase in its net interest income forecast.



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2026-10-13
US Stocks Slip Amid Semiconductor Weakness
US stock indices closed lower on Tuesday as many semiconductor heavyweights extended their recent losses. The S&P 500 ended near the flatline, while the Dow shed 180 points and the Nasdaq fell 0.3%. China’s CXMT advanced a new memory architecture, threatening US and South Korean rivals. Broadcom CEO Hock Tan also warned that excessive AI lab spending could deliver poor returns, sending Micron (-4.6%), SanDisk (-1.7%), Lam Research (-3.2%) and Applied Materials (-7.2%) lower. Meanwhile, Johnson & Johnson sank 5.6% on weaker sales, while UnitedHealth gained edged 0.3% lower despite upgrading its profit outlook. Financial stocks posted mixed results. Citigroup fell 5.3% despite strong revenue, and Wells Fargo slipped 2.6% following its earnings report. Goldman Sachs shed 0.1% despite stronger equity-trading revenue, while JPMorgan edged 0.3% lower as weaker fixed-income trading and higher costs offset an increase in its net interest income forecast.
2026-10-13
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US stock indices pulled back from session highs on Tuesday as Treasuries reversed gains and pressured AI infrastructure names alongside major earnings. The S&P 500 and the Dow fell 0.3%, while the Nasdaq 100 was more than 0.6% lower. Chipmakers extended declines on reports that China's CXMT advanced new memory architecture, threatening US and Korean rivals. Broadcom CEO Hock Tan also warned of excessive AI lab spending yielding poor returns, sending Micron, Marvell, and SanDisk down 4% to 6%. In turn, J&J sank 5.5% on soft sales, while UNH gained 2% on an upgraded profit outlook. Financials saw uneven results, with Citigroup falling 2% despite posting strong revenues and Wells Fargo slipping 1.4% after publishing results. On the other hand Goldman Sachs jumped 1% on a boost from equity trading. JPMorgan rose 1.5% as a raised net interest income forecast offset weaker fixed-income trading and higher costs.
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