U.S. Markets: What happened
- U.S. markets ended the day mixed.
- The Dow was relatively steady, while the S&P 500 and Nasdaq slipped slightly.
- Tech stocks were the main drag, but there was no panic selling.
- Overall, this felt like a pause rather than a shift in market direction.
What pulled markets down
- Technology stocks, especially AI-linked names, saw selling as valuations came under scrutiny.
- Investors looked less comfortable paying up for growth at current levels.
- Bond yields stayed high, making investors less eager to chase growth stocks.
- This pressure showed up most clearly in tech.
What kept things from getting worse
- Industrials and other non-tech sectors held up better.
- That support helped limit losses and kept the broader market stable.
- Economic data came in without negative surprises, which helped maintain confidence.
What didn’t matter much
- Fed talk stayed in the background.
- Investors largely ignored rate-cut speculation during the session.
- Moves in commodities didn’t have a meaningful impact on equities.
How to read this session
- Markets are cooling off, not breaking down
- Investors are becoming more selective
- This looks like consolidation, not stress