Stocks fell, with the Nasdaq down 1.88% to 26,692.87 and the S&P 500 off 1.11% at 7,718.94; the Dow slipped 0.09% to 51,621.48. Meta lost 3.27% and Nvidia dropped 3.16%, while Apple gained 0.50%. The VIX, a measure of expected stock-market volatility, rose 15.32% to 17.61. Gold futures gained 1.64% to $4,175.30, while crude oil futures edged down 0.03% to $93.87.
Headlines highlighted surging U.S. toy prices ahead of holiday shopping as tariffs and the Iran war bite. AI remained in focus: Citi said ASML results point to an AI chip demand outlook extending to 2030, Venture Global plans power plants for AI data centers, and Ralph Lauren is tying executive payouts to AI. Tesla is set to unveil its next-generation Roadster after years of delay.
Watch TSMC earnings for clues about AI demand amid market jitters, alongside European infrastructure companies' upcoming third-quarter results. Holiday pricing pressures and Tesla's planned Roadster unveiling are also stories to follow.