US stocks close lower, Dow Jones sheds nearly 200 pts

US stocks closed lower on Thursday, pressured by technology and chip stocks following the resignation of Nvidia’s CEO, while rising government bond yields added to market headwinds.

At the close, the Dow Jones Industrial Average fell 0.35%, or 189 points, to 52,297. The broader S&P 500 declined 0.35% to 7,592, while the Nasdaq Composite dropped 0.40% to 25,366.

In Europe, the STOXX Europe 600 rose 0.15% to 664, closing at a record high.

The UK’s FTSE 100 gained 0.25% to 10,863, Germany’s DAX advanced 0.41% to 26,771, and France’s CAC 40 rose 0.35% to 8,361.

In Japan, the Nikkei 225 fell 0.70% to 60,819, while the broader Tokyo Stock Exchange TOPIX index edged up 0.20% to 3,937.

Brent crude futures for January delivery rose 3.3%, or $3.06, to $95.82 per barrel.

US West Texas Intermediate (WTI) crude futures for December delivery gained 2.55%, or $2.21, to $88.74 per barrel.

Meanwhile, gold futures for December delivery fell 2.90%, or $112.6, to $3,885.3 per ounce.

What is behind the market moves?

Pressure on US equities came as oil prices climbed and Federal Reserve officials called for further monetary tightening, while investors assessed the implications of the crisis surrounding Nvidia and the departure of its CEO, Jensen Huang.