US Opening Bell | Stocks open lower; Oracle tumbles 4% as semis slide; Chip stocks under pressure

Market

September 24, U.S. stocks opened in the red as higher Treasury yields and growth worries weighed on sentiment. The Dow Jones Industrial Average slipped 0.3%, the S&P 500 fell 0.5% and the tech-heavy Nasdaq Composite lost 0.8%, with early breadth skewed decisively toward decliners.

Heavyweight technology names led the pullback. Oracle falls 4.1% after a downbeat cloud outlook, while chipmakers Marvell Technology drops 3.0%, Broadcom sheds 2.0%, Micron Technology slides 2.1% and NVIDIA slips 1.3% as investors rotate out of semiconductors. Mega-caps were not spared: Amazon.com eases 1.2% amid antitrust jitters and Apple edges down 0.3%. Bright spots included Meta Platforms, Inc. up 1.0% on new AI product news and Lufax jumps 8.0% after a strategic review update.

Elsewhere, Chinese ADRs lit up the tape: gainers were led by Uxin surging 14.7%, Zk International Group Co. Ltd. up 11.8% and Chaince Digital Holdings Inc. up 10.1% on bullish deal headlines. On the flip side, penny-stock freight player Freight Technologies, Inc. plunges 20.9%, chemical producer Gulf Resources, Inc. tumbles 12.5% and logistics newcomer Jayud Global Logistics Ltd. sinks 8.7% on profit-taking after recent rallies.

News

Oracle cuts cloud revenue outlook, shares slide 4.1%. Management cited slower enterprise IT spending and extended sales cycles, raising questions about near-term growth.

Micron Technology warns of soft memory demand, stock falls 2.1%. The chipmaker said inventory digestion could pressure margins through early next year.

NVIDIA retreats 1.3% as new U.S. export controls cloud AI chip sales. Tighter rules on high-end GPU shipments to China prompt analysts to trim revenue estimates.

Amazon.com faces looming FTC antitrust suit, down 1.2%. Reports say regulators may file as soon as this week, adding legal uncertainty to the e-commerce giant.

Meta Platforms, Inc. gains 1.0% on launch of AI ad-creation tools. The new suite aims to boost marketer efficiency and could lift ad revenue into the holiday season.

U.S. Treasury yields hit 4.70%, pressuring growth stocks. Rising rates stoke concerns about equity valuations and tighten financial conditions.

Uxin soars 14.7% after securing state-backed funding. The used-car platform will use proceeds to expand its nationwide inspection network, bolstering growth prospects.

Chaince Digital Holdings Inc. rockets 10.1% on crypto custody partnership. The firm will provide secure storage solutions for a major U.S. asset manager, opening a new revenue stream.

Zk International Group Co. Ltd. climbs 11.8% on $50 million U.S. expansion plan. The pipe-maker will build a new facility in Texas to meet rising demand for clean-water infrastructure.

Freight Technologies, Inc. tumbles 20.9% after discounted share offering. The logistics firm priced a $10 million capital raise below market, sparking dilution fears among investors.