US stocks retreated on Thursday after a strong start, with the S&P 500 down 0.2%, Nasdaq down 0.1%, and the Dow falling over 100 points as geopolitical tensions and banking concerns offset optimism from corporate earnings and the AI sector.
President Trump described his conversation with Russian President Putin as “lengthy,” adding uncertainty.
Meanwhile, regional banks faced loan troubles: Zions Bancorp posted a $50 million charge-off, dropping as much as 6.4%, while Western Alliance Bancorp fell 11% after issues with a borrower failing to provide collateral.
Major tech and AI stocks showed mixed moves: Apple fell 0.9%, Meta down 0.5%, Tesla over 1% lower, while Nvidia rose 0.8%, Amazon 0.2%, and Alphabet 0.9%.
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