U.S. Stock Markets Close Mixed Amid Caution Ahead of CPI Data

The three major indices closed mixed as large-cap technology stocks, including semiconductor shares, faced downward pressure.

While the Dow Jones Industrial Average saw a slight gain, the Nasdaq Composite fell by nearly 1%, and the S&P 500 finished slightly lower.

By sector, the technology and energy sectors, which had been driving the indices, both declined by more than 1%, weighing on the market. In contrast, the real estate sector rose by 2%.

The market opened higher, buoyed by U.S. President Trump's remarks on negotiations with Iran and a 3.4% plunge in West Texas Intermediate (WTI) crude oil prices.

However, tensions flared again after Iran shot down a U.S. military helicopter and President Trump vowed a military response. This renewed geopolitical instability triggered profit-taking across the market.

In particular, concerns over additional interest rate hikes by the Federal Reserve have resurfaced ahead of the May Consumer Price Index (CPI) report scheduled for release tonight, intensifying selling pressure on tech stocks.

Furthermore, with the massive SpaceX initial public offering (IPO) set for Friday, selling activity to secure funds for public subscription has added to the pressure, pushing the market's volatility index to its highest level since April.

Semiconductor stocks, which had surged the previous day, lost momentum and turned lower across the board.

Micron Technology and Broadcom both saw declines of over 1%.

Market caution remains elevated as investors face both a significant economic data release and a major IPO event.

With investors increasingly adopting a wait-and-see approach to assess the outcomes, intraday volatility has widened.
※ Please note: This article was translated by AI and may contain errors.