Tech Stocks See Modest Sell-Off Amid Industrial Gains

Major technology stocks saw significant losses during trading, with Tesla falling nearly 4% and Microsoft dropping over 4%. Specific declines included Oracle falling 4.02%, Micron Technology dropping 3.87%, Western Digital decreasing 2.41%, and NVIDIA falling 1.60%. Major US stock indices declined on Tuesday following reports that OpenAI's revenue did not meet expectations. The Dow Jones Industrial Average closed at 419,141.93, down 25.86 points. Cold air from China is expected to spread over the South China Sea and surrounding areas. US semiconductor stocks including Nvidia and Broadcom declined following reports that AI revenue and new user growth fell below internal targets. The Philadelphia Semiconductor Index dropped by more than 3 percent. The news follows reports that competitor Anthropic is expanding its market share in the enterprise and coding sectors. The Kospi opened down 0.2 percent at 1,213. Conversely, the Dow Jones performed better, driven by results from industrial companies like Caterpillar. Companies including Meta, Amazon, and Microsoft continue to deploy billions of dollars in compute capacity to support AI development. This ongoing investment is noted as being for the US economy.