---
title: "U.S. stock market trends | NASDAQ closed down 1.16%, Dow Jones fell back after hitting a record high"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/291975357.md"
description: "U.S. stocks fell on Tuesday due to a semiconductor sell-off and rising oil prices. The Dow Jones Industrial Average hit a new high during the day but then retreated, closing down 130 points; the NASDAQ fell 1.16%, and the S&P 500 dropped 0.45%. After being included in the NASDAQ-100 index, SpaceX's stock price plummeted, but brokers generally remain optimistic about its AI prospects and have given it a buy rating. In the tech sector, Meta, Amazon, and Microsoft rose, while Intel, Micron, and Broadcom fell due to performance or valuation issues"
datetime: "2026-07-07T20:35:41.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/291975357.md)
  - [en](https://longbridge.com/en/news/291975357.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/291975357.md)
---

# U.S. stock market trends | NASDAQ closed down 1.16%, Dow Jones fell back after hitting a record high

Under the pressure of semiconductor stock sell-offs and the rebound in international oil prices, U.S. stocks were under pressure on Tuesday. The Dow opened up 48 points, with the increase at one point expanding to 233 points, reaching a new intraday record of 53,289 points, before fluctuating and dropping 281 points to a low of 52,774 points. The S&P 500 fell by as much as 0.78%, while the tech-heavy NASDAQ dropped by as much as 1.67%.

**Brokerages Recommend Buying SpaceX; Morgan Stanley Target at $300**

According to Reuters, China's DeepSeek is developing its own artificial intelligence (AI) chips, causing Nvidia's stock to drop by 2.3%, but it closed up 0.7%. South Korea's Samsung Electronics' preliminary performance did not meet high market expectations, leading to declines of 4.7% for Micron Technology and 9.7% for Intel. Broadcom's stock fell by 3.2% due to a downgrade in investment rating by brokerages based on high valuations, closing down 0.8%.

SpaceX has officially entered the NASDAQ-100 index, with its stock plunging 6.8%. Several brokerages have begun tracking SpaceX and assigned a "buy" investment rating, with a 12-month average target price of $236, indicating a potential upside of 47%. Among them, Morgan Stanley noted that Neoclouds will be the company's largest business in the short term, with future growth primarily driven by demand for AI services, setting a target price of $300.

In other major stocks, Amazon is reportedly planning to issue bonds to raise $25 billion to fund its AI business development, with its stock rising 0.8%. Microsoft increased by 0.5%, and Meta surged by 2.4%.

At the close of the U.S. market, the Dow fell by 130 points to 52,925 points; the S&P 500 dropped by 0.45%, and the NASDAQ slid by 1.16%. European stocks showed mixed performance, with the UK market rising by 0.13%, while the French and German markets fell by 0.51% and 1.37%, respectively

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