Equity Alert
US indices end lower on weak earnings, US-China trade dispute
This story was originally published at 08:03 IST on 23 October 2025
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Equity Alert: US indices end lower on weak earnings, US-China trade dispute
MUMBAI--0730 IST--Equity indices in the US fell Wednesday after lower-than-expected earnings from companies, including Texas Instruments and Netflix. Trader sentiment was further dampened after Reurters, citing sources, reported that the White House is considering curbs on critical software exports to China in retaliation to Beijing's latest round of restrictions on rare earth magnet exports. US President Donald Trump Tuesday said he would have a "very successful meeting" with Chinese President Xi Jinping, but also hinted that the meeting next week might be called off.
Shares of Texas Instruments fell nearly 6?ter the semiconductor company reported weaker-than-expected earnings for the latest quarter and cut its December quarter earnings forecasts. The company's management said it was seeing a semiconductor-industry recovery chug along at a more moderate pace than past cycles, according to a report by The Wall Street Journal. Shares of other semiconductor companies such as Advanced Micro Devices, Micron Technology, and VanEck Semiconductor ETF fell 2-3%.
Shares of Netflix fell 10?ter the streaming platform's earnings missed estimates due to a dispute with Brazilian tax authorities. "Perhaps amid reports that US corporate earnings outcomes for Q3 have been much better than expected, there may remain some worries about guidance from management as the US corporate earnings season expands to encompass more stocks and more sectors," Thierry Wizman, global FX and rates strategist at Macquarie Group, was quoted as saying by CNBC.
Following are the closing levels of US indices Wednesday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6699.40 |
(-)0.53 |
|
NASDAQ Composite |
22740.40 |
(-)0.93 |
|
Dow Jones Industrial Average |
46590.41 |
(-)0.71 |
(Eshitva Prakash)
End
US$1 = INR 87.93
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Avishek Dutta
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