The three major New York stock indexes ended mixed after shares of the biggest tech stock, Nvidia, slumped following a strong earnings report.
On the 26th (U.S. Eastern time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average rose 17.05 points, or 0.03%, to close at 49,499.20. The Standard & Poor's (S&P) 500 fell 37.27 points, or 0.54%, to 6,908.86, and the Nasdaq composite lost 273.69 points, or 1.18%, to 22,878.38.
Nvidia released its results after the close the previous day for fiscal year 2026 (November 2025–January 2026). Revenue and earnings per share (EPS) beat market expectations, and key metrics, including gross margin, hit a record high. However, after the open, investors dumped Nvidia shares, and Nvidia ended the session down $10.67, or 5.46%, at $184.89.
Tom Graff, chief investment officer (CIO) at Facet, said, "Nvidia faces a dual situation of lofty expectations priced into the stock and a skeptical market," adding, "Given that, it is likely to endure a choppy period for at least the next few quarters."
Selling also swept major artificial intelligence (AI) and semiconductor-related stocks. The Philadelphia Semiconductor Index fell more than 3%, after widening its intraday loss to as much as 4.79%. TSMC, Broadcom, Micron Technology, AMD, and Intel also fell around 3%.