The S&P 500 fell 21.37 points (0.28%) to close at 7,653.00, while the Nasdaq Composite dropped 200.80 points (0.77%) to settle at 25,979.66. The Philadelphia Semiconductor Index slid 2.64%, with Nvidia down 2.03% and Micron Technology falling 5.76% ahead of the chipmaker’s earnings release scheduled for August 26. Analysts expect second-quarter fiscal 2027 revenue of approximately $92 billion and earnings per share of $2.09. The Trump administration announced a new sanctions package against Iran on Monday targeting five key sectors and 60 entities, while Texas Governor Greg Abbott publicly criticized the rapid expansion of AI data centers.
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