Tech-Led Selloff Drags Indices Lower as Metals Plummet; Dollar Mixed
MarketsFN Team
Tech Slump Sparks Broad Market Retreat as Gold, Silver Plunge Over 4%
US equities closed broadly lower Tuesday as tech weakness dragged major indices down, with the Nasdaq 100 leading declines at -1.08%. Precious metals suffered their worst day in months, with gold plunging -3.94% to $4,151.10/oz and silver cratering -4.88% amid a stronger dollar.
🇺🇸 US Session Overview
Tech shares bore the brunt of Tuesday's selling pressure, with the Nasdaq 100's -1.08% drop to 30,276.81 reflecting investor caution ahead of key AI meetings between tech executives and political figures. The S&P 500 fell -0.77% to 7,683.69, while the Dow proved relatively resilient with a -0.67% decline to 51,481.51. Small caps mirrored the broader market, with the Russell 2000 slipping -0.69%. The session saw mixed reactions to corporate news: Nvidia shares were volatile after its expanded buyback plan, while Boeing faced pressure following FAA certification delays for its 737 Max 10. Meanwhile, Meta's AI developments and SpaceX's successful Starship launch failed to lift the tech sector.📅 Economic Calendar Highlights
A quiet economic calendar offered no major data releases Tuesday, leaving markets to focus on corporate developments and geopolitical signals. Attention now turns to Wednesday's pending home sales data and Friday's crucial PCE inflation reading - the Fed's preferred inflation gauge - for fresh clues on monetary policy.📋 Earnings Spotlight
Today's earnings calendar featured mostly small-cap names, with Jefferies Financial Group (JEF) among the more notable reporters after the close. The investment bank's results may offer insights into capital markets activity amid the current rate environment. Other reporters included IDT Corp and several biotech firms, though none moved major indices.💱 FX & Commodities
The dollar showed mixed performance, with USD/JPY falling -0.90% to 157.38 while USD/CHF gained +0.47%. GBP outperformed, rising +0.31% against the greenback. Commodities saw dramatic moves, with gold and silver suffering their worst single-day drops in months. Oil markets diverged sharply - WTI crude edged up +0.51% to $92.88 while Brent cratered -5.87% on supply dynamics. Cryptos showed relative stability, with Bitcoin dipping -1.15% to $83,490.As Asian markets prepare to open, focus will remain on dollar strength and its impact on commodities, while earnings from Jefferies may set the tone for financial stocks. Wednesday's session brings fresh housing data and continued scrutiny of the tech sector's valuation amid AI developments.
🇺🇸 US Indices — Session Close
| Index | Price | Change | Change % |
|---|---|---|---|
| S&P 500 | 7,683.69 | ▼ -59.72 | ▼ -0.77% |
| Nasdaq 100 | 30,276.81 | ▼ -331.32 | ▼ -1.08% |
| Dow Jones | 51,481.51 | ▼ -347.11 | ▼ -0.67% |
| Russell 2000 | 2,817.91 | ▼ -19.64 | ▼ -0.69% |
💱 FX Majors
| Pair | Rate | Change % |
|---|---|---|
| EUR/USD | 1.1374 | ▼ -0.01% |
| GBP/USD | 1.3252 | ▲ +0.31% |
| USD/JPY | 157.38 | ▼ -0.90% |
| AUD/USD | 0.7019 | ▲ +0.15% |
| USD/CHF | 0.832 | ▲ +0.47% |
🛢️ Commodities & Crypto
| Asset | Price (USD) | Change % |
|---|---|---|
| Gold (XAU/USD) | 4,151.10 | ▼ -3.94% |
| Silver (XAG/USD) | 61.11 | ▼ -4.88% |
| Crude Oil (WTI) | 92.88 | ▲ +0.51% |
| Brent Oil | 98.20 | ▼ -5.87% |
| Natural Gas | 3.14 | ▼ -1.60% |
| Bitcoin | 83,490.35 | ▼ -1.15% |
| Ethereum | 2,682.05 | ▼ -0.18% |
📋 Today's Earnings
| Ticker | Company | Timing | Market Cap |
|---|---|---|---|
| AADXN | Addex Therapeutics Ltd ADR | BMO | 2890000.0 |
| BBTOC | Armlogi Holding Corp | BMO | 11200000.0 |
| GGNS | Genius Group Ltd | BMO | 28790000.0 |
| IIVA | Inventiva ADR | BMO | 838650000.0 |
| KKNDI | Kandi Technologies Group Inc | BMO | 79700000.0 |
| MMITQ | Moving iMage Technologies Inc | BMO | 5740000.0 |
| NNTWK | Netsol Technologies Inc | BMO | 63770000.0 |
| PPTN | Palatin Technologies Inc | BMO | 17040000.0 |
| IIDT | IDT Corp | AMC | 1730000000.0 |
| JJEF | Jefferies Financial Group Inc | AMC | 10870000000.0 |
| MMTN | Vail Resorts Inc | AMC | 4920000000.0 |
| PPOCI | Precision Optics Corp Inc | AMC | 49520000.0 |
| SSANG | Sangoma Technologies Corp | AMC | 119480000.0 |
| TTRAK | ReposiTrak Inc | AMC | 149020000.0 |
📅 Economic Calendar
All times in UTC — Actual highlighted where available
| Time | Currency | Event | Imp. | Actual | Forecast | Previous |
|---|---|---|---|---|---|---|
| 09:30 | EUR | ECB's Elderson Speaks | 🟡🟡 | — | ||
| 10:00 | GBP | MPC Member Ramsden Speaks | 🟡🟡 | — | ||
| 12:15 | USD | FOMC Member Bowman Speaks | 🟡🟡 | — | ||
| 13:30 | EUR | ECB President Lagarde Speaks | 🟡🟡 | — |
Report published: September 28, 2026 — 22:20 CET
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