- The Invesco QQQ Trust fell 2.86% and the Invesco Semiconductors ETF fell 9.2% as renewed concerns over AI spending followed recent earnings reports.
- Meta Platforms fell 7.0% after reporting its first cash outflow in over a decade due to AI investments.
- The Invesco S&P 500 Equal Weight ETF rose 0.73%, so the average S&P stock outperformed market-cap-weighted indices.
- The 10-year Treasury yield fell 17 basis points, its largest one-day drop since March 2023, and the iShares U.S. Home Construction ETF rose 5.2% on expectations of lower mortgage rates.
- Moderna shares fell 17.6%, which analysts attributed to a sell-the-news reaction following positive vaccine data rather than a failed trial.