US stock market stumbled due to semiconductor selloff after SK Hynix's weak earnings.

From NASDAQ.: 2025-01-23 11:38:55

The U.S. stock market stumbled near record highs on Wednesday due to a semiconductor selloff after SK Hynix’s weak earnings. Nvidia, AMD, and Broadcom led declines, with the Philadelphia Semiconductor Index dropping 1.3%. Bitcoin rebounded 0.9% to $105,056.2 while 10-year Treasury yields rose to 4.65%. Labor market data showed an increase in weekly jobless claims.

S&P 500 was flat; Nasdaq 100 fell 0.3%; Dow Jones rose 0.4%. SK Hynix’s earnings raised concerns about AI chip demand. Bitcoin rose 0.9% to $105,056.2. Labor market data showed jobless claims at a three-year high. Investors await Eurozone PMI and U.S. home sales data.

The broader market showed resilience despite semiconductor stock declines. Bitcoin’s rebound highlights optimism in digital assets. AI-driven investments by OpenAI, SoftBank, and Oracle buoy optimism. Labor market data indicates robust wage growth and job openings. Upcoming corporate earnings from chipmakers could guide market direction.

Semiconductor stocks faced scrutiny after SK Hynix’s lackluster earnings. Labor market data showed jobless claims at a three-year high. Rising 10-year Treasury yields may dampen economic growth prospects. Institutional inflows into equities remain subdued. Investors face risks as semiconductor stocks encounter scrutiny. Labor market trends remain a focal point. Fed policymakers are not expected to cut rates next week.



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