US stocks close lower, Nasdaq sheds over 300 pts

US stocks declined at the close of Tuesday’s session, weighed down by several major semiconductor stocks’ negative performance. Additionally, markets are anticipating the Federal Reserve’s annual Jackson Hole Economic Symposium later this week.

The Dow Jones Industrial Average was broadly unchanged at 44,922 points, after touching a fresh intraday record of 45,207 points.

The S&P 500 slipped 0.59%, or 37 points, to 6,411 points, while the Nasdaq Composite dropped 1.46%, or 314 points, to 21,314 points.

The downturn was driven by the notable weakness in Nvidia, falling 3.50% to $175.64, AMD down 5.44% to $166.55, and Broadcom losing 3.55% to $294.91.

Europe’s Stoxx Europe 600 gained 0.70% to 557 points, supported by broad-based sectoral and market strength.

Germany’s DAX rose 0.45% to 24,423 points, France’s CAC 40 climbed 1.20% to 7,979 points, and the UK’s FTSE 100 edged up 0.35% to 9,189 points.

In Japan, the Nikkei 225 slipped 0.40% to 43,546 points, while the broader Topix index declined 0.15% to 3,116 points.

In commodities, Brent crude futures for October delivery fell 1.22%, or $0.81, to $65.79 per barrel.

WTI crude futures for September delivery declined 1.69%, or $1.07 to $62.35 per barrel.

Meanwhile, gold futures for December delivery slipped 0.57%, or $19.30, to $3,358.70 per ounce at settlement.