The three major U.S. stock indices all closed lower, with the Philadelphia Semiconductor Index down 4.58%

The three major U.S. stock indices all closed lower, with the Nasdaq down 1.02%, the S&P 500 down 0.94%, the Dow Jones down 0.83%, and the Philadelphia Semiconductor Index down 4.58%. Most large tech stocks declined, with Micron Technology down about 8%, Intel down over 5%, Tesla down more than 2%, Nvidia down over 1%, and Google and Apple slightly lower; Microsoft rose over 1%, Amazon and Netflix saw modest gains. Target surged 6.7%, marking its largest single-day increase since April 9 last year, as the company unexpectedly issued an optimistic earnings forecast amid improving demand.