By Chelsey Dulaney
Chip stocks pulled Nasdaq lower to start the week, as falling oil prices failed to give markets a broad reprieve.
Nvidia shares are down about 5%, dragging its market value below that of Apple’s in intraday trading. Investors are concerned about the possibility that the chip giant could provide a roughly $250 billion backstop for a massive OpenAI data-center project.
Elsewhere in tech, memory-chip maker CXMT pulled off a blockbuster stock-market debut that made it most valuable company listed in mainland China. Investors will watch for a fresh batch of U.S. tech earnings this week, including reports from Microsoft and Meta Platforms on Wednesday.
Global oil prices meanwhile have retreated below $86 a barrel, a sharp drop that comes after the Trump administration paused plans to escalate its war in Iran. The move rekindled hopes of a peace deal, though pressures on global energy supplies remain in place. In other market moves:
Treasury yields slipped while the Dow industrials edged higher, lifted by an 8% rally in Salesforce shares.
The Fed’s interest-rate decision Wednesday, one of the least predictable in years, is also in focus.
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(END) Dow Jones Newswires
07-27-26 1458ET
