Nvidia Earnings and Iran Sanctions Weigh on U.S. Stocks

U.S. stocks opened the week on August 24 with mixed moves. Semiconductor losses pulled down the Nasdaq Composite and S&P 500, while cheaper oil and falling Treasury yields gave some support to the Dow Jones Industrial Average.

Investors were awaiting news from several fronts, including Treasury Secretary Scott Bessent's planned announcement of new economic measures against Iran, Nvidia's second-quarter results, fresh inflation data, and Federal Reserve Chair Kevin Warsh's speech at Jackson Hole.

The S&P 500 fell by 0.27% to 7,653.60 during morning trading, while the Nasdaq dropped 0.63% to 26,015.94. The Dow Jones Industrial Average added 0.21% to 53,389.19, despite declines in tech stocks.

Nvidia stock was down around 2.4%, with Micron and Marvell falling more than 6%. Sandisk dropped about 10.6%, while the S&P 500 technology sector lost 1.1%.