# S&P 500 and Nasdaq Fall as Semiconductor Stocks Drag Technology Sector

- URL: https://stocks.freetheai.org/news/s-p-500-and-nasdaq-fall-as-semiconductor-stocks-drag-technology-sector-307458
- Published: 2026-10-12T23:10:18Z
- Category: markets; sentiment: bearish; impact: medium
- Symbols: [SP:SPX](https://stocks.freetheai.org/symbols/SP-SPX), [NASDAQ:NDX](https://stocks.freetheai.org/symbols/NASDAQ-NDX)
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Major U.S. stock indexes closed mixed on Monday, with technology shares pulling down the broader market. The S&P 500 (SP:SPX) fell 0.1% and the Nasdaq-100 Index (NASDAQ:NDX) dropped 0.7%, weighed down by declines across chipmaker stocks. In contrast, the Dow Jones Industrial Average added 0.4%, supported by a 2% gain in Salesforce Inc. (CRM) following an analyst upgrade.

Weakness in the semiconductor sector was led by Micron Technology Inc. (MU), which dropped 3.9% amid investor concerns regarding chip architecture advancements at China's CXMT. Other major semiconductor companies, including Nvidia Corp. (NVDA), Advanced Micro Devices Inc. (AMD), and Intel Corp. (INTC), also lost ground. Outside of technology, energy markets gained momentum as U.S. WTI crude prices rose 2.1% to $93.74 per barrel.

Investors are now turning their attention to the third-quarter earnings season to evaluate corporate profits, artificial intelligence spending, and the impact of interest rates and inflation. Major banking institutions, including JPMorgan Chase and Co., Morgan Stanley, and Wells Fargo and Co., are scheduled to launch earnings reports later this week.

## Key points

- The S&P 500 dropped 0.1% and the Nasdaq-100 fell 0.7%, while the Dow Jones Industrial Average gained 0.4%.
- Micron Technology dropped 3.9%, pulling down broader semiconductor stocks on concerns over Chinese chip developments.
- Salesforce rose 2% following an analyst upgrade, helping support gains in the Dow.
- U.S. WTI crude oil prices advanced 2.1% to $93.74 per barrel amid energy market uncertainty.
- Major banks including JPMorgan, Morgan Stanley, and Wells Fargo kick off third-quarter earnings this week.

## Questions and answers

### Why did chipmaker stocks decline on Monday?

Semiconductor stocks fell after Micron Technology dropped 3.9% due to investor concerns over advancements in chip architecture at China's CXMT, weighing on the broader tech sector.

### Which companies are kicking off earnings season this week?

Major financial institutions including JPMorgan, Morgan Stanley, and Wells Fargo are scheduled to report quarterly results this week.