Equity Alert
Nasdaq Composite falls 1.5% on profit booking in tech stocks
This story was originally published at 07:55 IST on 20 August 2025
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Equity Alert: Nasdaq Composite falls 1.5% on profit booking in tech stocks
MUMBAI--0736 IST--The Nasdaq Composite index fell 1.5% Tuesday due to a sell-off in several technology companies as investors shifted to real estate, utilities, and consumer staples stocks. Investors were likely taking out profits from technology companies ahead of US Federal Reserve Chairman Jerome Powell's speech at the Jackson Hole Symposium on Friday, Reuters reported. The S&P 500 fell 0.6% while Dow Jones Industrial Average was largely unchanged.
Tech-major Nvidia dropped 3% and Palantir Technologies fell over 9%. Media reports said Nvidia is working on new chips for China that will be more powerful than the current H20 chips. However, sentiment around the stock was likely weak after US Treasury Secretary Scott Bessent said Nvidia would need to agree to a revenue sharing model with the government to get export licence to sell chips in China. Among others, Intel rose 7% on a $2-billion investment from SoftBank Group.
Home Depot missed expectations on earnings and it said customers were delaying large home-improvement projects. It also said small price increases were possible due to tarrifs, The Wall Street Journal reported. The stock ended 3% higher as it retained the annual guidance for fiscal 2025. Among other major consumer-facing companies, Target will reported its earnings Wednesday and Walmart will announce its results on Thursday.
Following are the closing levels of US indices Tuesday:
| INDEX | LAST LEVEL | CHANGE IN % |
| Dow Jones Industrial Average | 44922.27 | 0.02 |
| NASDAQ Composite | 21314.95 | (-)1.46 |
| S&P 500 | 6411.37 | (-)0.59 |
(Anshul Choudhary)
US$1 = INR 86.95
End
Edited by Tanima Banerjee
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