U.S. Stock Indices Close Lower

All three major U.S. stock indices closed lower, with the Dow Jones down 1.88%, the Nasdaq down 1.98%, and the S&P 500 down 1.61%. Chip stocks fell sharply, with Qualcomm dropping over 6%, Broadcom, Western Digital, and ARM down over 5%, and TSMC, Micron Technology, and AMD down over 4%. NVIDIA fell 3.7%. Alcoa dropped 9.5%, marking its worst single-day performance since April 2025. Advanced Micro Devices closed down 28%, the largest decline since March.