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Stock Market News: The US equities market ended lower on Thursday (local time), weighed down by weakness in chip stocks, with the NASDAQ Composite settling nearly 1.5 per cent lower.
At the end of Thursday's trading session in the US, the NASDAQ Composite settled 1.47 per cent, or 387.28 points, lower at 25,881.95, while the S&P 500 fell 0.5 per cent to close at 7,533.87. The Dow Jones Industrial Average fell 105.32 points, or 0.20 per cent, to 52,553.32.
Memory chip makers were among the biggest laggards, with SanDisk, Western Digital, Seagate Technology, and Intel slipping between 5.8 per cent and 12.6 per cent.
Shares of Google's parent company, Alphabet, sank more than 4 per cent after Bloomberg reported that the tech giant was behind schedule on the delivery of Gemini 3.5 Pro, its most powerful AI model. The stock settled 4.4 per cent lower at USD 353.81.
Netflix falls over 8% in after-hours
During Thursday's trading session, Netflix reported revenue of USD 12.56 billion, up 13 per cent year over year, narrowly missing analysts' expectations. Earnings per share also increased for the company. Despite the otherwise positive results, Netflix shares fell more than 8 per cent in after-hours trading on Thursday, largely due to the company's weaker-than-expected Q3 forecasts.
As of 8:03 EDT, the stock of the digital streaming platform was down 8.8 per cent, or USD 6.60, trading at USD 67.79.
Asian markets open weak
Among the Asian markets, Japan's market opened on a weaker note, with the Nikkei 225 slipping nearly 3 per cent, or around 2,000 points, to 64,859.50. Other major Asian markets, such as the Hang Seng and KOSPI, were yet to open for Friday's trading session.
GIFT Nifty indicates positive start
For the domestic markets, signals from the GIFT Nifty looked positive, with the index up 0.22 per cent at 24,095. However, these positive signals came despite weakness in the US markets and some Asian markets amid the backdrop of the US-Iran conflict.
Indian markets end flat on July 16
India's benchmark indices, comprising the NSE Nifty 50 and the BSE Sensex, ended flat on July 16. The 30-share BSE Sensex edged up 1.44 points to settle at 77,186.87. During the day, it climbed 394.26 points, or 0.51 per cent, to 77,579.69, but pared gains towards the end of the session. The 50-share NSE Nifty dipped 5.75 points, or 0.02 per cent, to end at 24,072.75.
US-Iran conflict
On the geopolitical front, "At 2 pm ET today, U.S. forces began conducting a new wave of strikes against Iran for the sixth consecutive night to further degrade Iranian military capabilities," US Central Command posted on X.
(Disclaimer: The above article is meant for informational purposes only and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money-related decisions.)
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