Market
September 16, U.S. stocks closed lower across the board amid renewed rate-hike anxiety and profit-taking in mega-cap technology names. The Dow Jones Industrial Average fell 0.63%, the S&P 500 slipped 0.45% and the Nasdaq Composite lost 0.78%, ending a three-day rebound as Treasury yields crept higher and traders braced for next week’s Federal Reserve meeting.
Semiconductors and high-growth tech led the pullback. Coinbase Global (COIN) fell 10.10% after a sharp drop in bitcoin, while MicroStrategy (MSTR) slid 5.36% in sympathy. Oracle (ORCL) retreated 3.05% as investors continued to digest its earnings miss. Broadcom (AVGO) slipped 1.58% following mixed analyst commentary, and Alphabet (GOOG) eased 1.24%. Apple (AAPL) dipped 0.52% in the wake of lukewarm iPhone demand chatter, and Microsoft (MSFT) declined 1.68%. On the upside, Advanced Micro Devices (AMD) gained 2.19% on fresh AI chip optimism, NVIDIA (NVDA) added 0.57% and Marvell Technology (MRVL) rose 1.32%.
Elsewhere, crypto and China-related names saw outsized swings. Reto Eco-Solutions (RETO) rocketed 676.27% on heavy retail volume, while Hongli Group (HLP) jumped 20.53%. In contrast, 17 Education & Technology (YQ) fell 12.53%, Canaan (CAN) lost 11.35% and Sunrise New Energy (EPOW) slid 9.04%. Coinbase’s slump weighed on Bitcoin-proxy plays as MicroStrategy and other crypto-adjacent stocks extended recent declines.