Today’s Top Stories: Nvidia and Micron Slide, Klarna Cuts Outlook and Home Depot Beats Earnings
TLDR
- Nvidia and chip stocks fell around 2–3.7% as Treasury yields climbed
- Klarna cut its 2026 revenue outlook, sending shares sharply lower
- Home Depot beat earnings estimates with $47.86 billion in Q2 revenue
- Oil prices hit three-week highs as U.S.-Iran talks appeared to stall
- Micron reversed Monday’s gains, dropping roughly 6% Tuesday
Wall Street had a rough Tuesday. Rising Treasury yields, higher oil prices, and renewed geopolitical tensions hit technology stocks hard, pulling several major names lower across the board.
Nvidia and Chip Stocks Slide
Nvidia and the wider semiconductor sector fell sharply as long-term Treasury yields moved higher. The Philadelphia Semiconductor Index dropped around 3.7%, while Nvidia fell roughly 2%.
Micron, Sandisk, and other AI-related hardware names saw even steeper losses.
Higher bond yields make future earnings worth less in today’s dollars, which puts extra pressure on fast-growing companies with high valuations.
Investors are now focused on Nvidia’s August 26 earnings report as the next big test for the AI trade.
… Continue reading the full article at the original source below.
