US Stock Market Today: S&P 500 Falls 0.2% & NASDAQ Dips 0.5%, as Tech Weakens, & Gold Extends Losses Amid Earnings Season

Gold extended its recent losses, falling 2.6% to $4,016.49 per ounce, after plunging 5% the previous evening, its steepest one-day decline since 2020. Analysts said the drop reflected profit-taking after an extended rally. Spot gold earlier traded near $4,039.48, while US gold futures slipped 1.4% to $4,050.64 per ounce.

In the bond market, the 10-year US Treasury yield rose one basis point to 3.97%. Germany’s 10-year yield increased to 2.57%, while the UK’s benchmark yield declined to 4.42%. The dollar remained steady, with the euro at $1.1611 and the yen trading near 151.87 per dollar.

Crude oil prices moved up with West Texas Intermediate gaining 2.4% to $58.63 per barrel. Energy stocks remained split between performance, as investors factored in supply trends and global demand trends.