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Informist, Tuesday, Aug. 11, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: US indices close lower; tech selloff, West Asia concerns weigh

 

MUMBAI--0710 IST--Major US indices closed lower Monday owing to a selloff in major technology stocks and on renewed concerns related to the war in West Asia. The technology-heavy Nasdaq Composite closed lower while the S&P 500 and the Dow Jones Industrial Average also closed slightly lower. 

 

Iran reportedly said it is closing in on a deal with Oman to reopen the Strait of Hormuz, CNBC reported. But Tehran has continued to resist direct negotiations with the US until several conditions are met. Iranian Foreign Minister Abbas Araghchi said Sunday there was "no possibility of restarting negotiations" as long as the US continues violating the June memorandum of understanding, without compensating for its "violations," Tasnim News Agency, a semi-official news outlet associated with the Islamic Revolutionary Guard Corps, reported.

 

Meanwhile, major technology players such as Intel, Nvidia, and Broadcom posted losses Monday. Shares of Intel Corp. closed more than 4% lower after the seller of computer chips announced it plans to raise $15 billion through a share sale, CNBC reported. Shares of semiconductor manufacturer Broadcom fell more than 1%, Apple fell 1.5%, and those of Nvidia fell nearly 3%.

 

There is an upside to Broadcom as its custom artificial chip business expands beyond Google, Meta, OpenAI, Anthropic, and Apple, while advanced packaging technology could significantly increase chip production, Vijay Rakesh, an analyst at Mizuho, told CNBC. "We see it best positioned in AI ASIC market at a significant discount and its pipeline expands with a wide technology moat," Rakesh said. 

 

The likelihood that the US Federal Reserve will raise interest rates at its September meeting has increased to 51.2% from 44.4% earlier, according to the CME Fedwatch tool. Earlier, expectations for a rate hike had fallen to 44.4% from 67.2% on the back of weaker-than-expected jobs data. 

 

Following were the closing levels of major US indices Monday:

 

Index	Level	Change in %
Dow Jones Industrial Average	53975.98	(-)0.1
NASDAQ Composite	26605.36	(-)0.3
S&P 500	7753.11	(-)0.1

 

(Deesha Jadhav)

 

US$1 = INR 95.30

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Pankaj Aher

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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