Stock Market Today, July 1: Meta Shakes Up Cloud Sector and Tech Stocks Weigh on Markets

U.S. equities were slightly lower as the Nasdaq fell 0.66% to 26,040.03 amid intensified tech profit-taking, while the S&P 500 slipped 0.22% to 7,483.23 on manufacturing growth concerns. The Dow Jones Industrial Average nonetheless reached an intraday record high, suggesting a mixed tape rather than a broad risk-off move.

Analysis

U.S. equities were slightly lower as the Nasdaq fell 0.66% to 26,040.03 amid intensified tech profit-taking, while the S&P 500 slipped 0.22% to 7,483.23 on manufacturing growth concerns. The Dow Jones Industrial Average nonetheless reached an intraday record high, suggesting a mixed tape rather than a broad risk-off move.