US Stocks Fall as Tech Giants Struggle

The US stock market closed lower on August 11, with all three major indices declining. The Dow Jones Industrial Average fell by 0.34%, while the Nasdaq Composite Index dropped by 0.60%. Large-cap tech stocks were particularly affected, with the Wind U.S. Tech Giants Index decreasing by 1.13%.

Google (GOOGL) saw a significant decline of nearly 4%, marking its largest single-day percentage drop in almost six months and leading the decline among Dow components. SpaceX (SPCX) also fell, down 3.93% to $133.29.

In contrast, memory stocks rose, led by SK Hynix (SKHY), which gained 4.70%. SanDisk (SNDK) increased by 2.68%, Seagate Technology (STX) rose by 2.44%, and Micron Technology (MU) climbed 0.87%.