US stock indexes are down, with the S&P 500, Dow Jones, and Nasdaq 100 hitting 2-week lows. Tech and semiconductor weakness, job cut concerns, and a government shutdown weigh on markets. Fed Vice Chair’s hawkish comments add to the negative sentiment. Chinese trade data disappoints, impacting global growth prospects.

The US Supreme Court questions the legality of President Trump’s reciprocal tariffs. Lower courts found them illegal, potentially leading to refunds of over $80 billion. Q3 earnings season shows strong results but slower profit growth. Overseas markets decline, while T-notes struggle amid hawkish Fed comments and government shutdown impacts.

Tech stocks like Microchip Technology and NVIDIA lead the market decline. Tesla, Amazon, and others face selling pressure. Intellia Therapeutics drops sharply after a patient’s death. CNH Industrial NV and Block report weak earnings, while Globus Medical and Expedia Group gain. Akamai Technologies, Monster Beverage, and Affirm Holdings show positive momentum.

Read more at Nasdaq: Stocks Decline on Weakness in Megacap Tech Stocks and Chipmakers