US Market today: Why did Coinbase share price fall? US market ended lower, Chip stocks decline

US stock market news today
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What happened in the US stock market today?

  • US Stocks ended lower ahead of inflation data release. Nasdaq fell 1.2%, S&P 500 lost 0.4%, Dow fell 0.2%. 
  • Chip stocks fell sharply post cut in earnings guidance by Micron Technology. Marvell down 8%, AMD fell 5%, Nvidia, Micron and Qualcomm down 4% each.
  • Occidental Petroleum share price jumped after Warren Buffett's Berkshire Hathaway increased stake to 20.2%, share price up 137% in last 1-year.
  • Novavax stock crashed 30% post cutting annual revenue forecast by 50% over softening demand of its COVID-19 shot.

US Most Active Stocks Today

Stock price actionReason behind the move
ARK Genomic Revolution ETF fell 5%ARK Genomic Revolution ETF price fell sharply over the losses in underlying stocks of Twist, CareDx and Teladoc.
ARK Innovation ETF fell 5%ARK Innovation ETF fell sharply tracking the losses in growth and tech stocks ahead of inflation data in the US.
Coinbase crashed 11%Coinbase share price fell sharply after posting at least a billion-dollar loss in June quarter and missed on revenue estimates as well.
Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF jumped 2%Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares ETF price jumped tracking the gains in the energy stocks over volatile oil prices.
Direxion Daily Semiconductor Bull 3X ETF crashed 14%Direxion Daily Semiconductor Bull 3X ETF price fell following sharp losses in chip stocks after Micron Tech's weak revenue guidance.
Direxion Daily Technology Bull 3X ETF fell 3%Direxion Daily Technology Bull 3X ETF price extended fall following the decline in underlying tech stocks of Nvidia, PayPal and Mastercard.
Ford fell 4%Ford share price fell after reports of significant rise in battery cost for its electric vehicles, raised price of electric F-150 Lightning by up to $8,500.
Netflix fell 2%Netflix share price witnessed profit-booking along with other Big Tech stocks ahead of inflation data in US, stock up 30% in last 1-month.
Nu crashed 11%Nu share price fell sharply post reporting weak earnings growth and business growth guidance in 2nd half of year 2022.
Nvidia lost 4%Nvidia share price fell sharply along with other Chip stocks post Micron Tech's weak revenue guidance for September quarter.
ProShares Bitcoin Strategy ETF lost 4%ProShares Bitcoin Strategy ETF (BITO) price fell sharply tracking the losses in Bitcoin prices and trading volumes.
ProShares Ultra Semiconductors fell 8%ProShares Ultra Semiconductors ETF price fell following sharp losses in chip stocks after Micron Tech's weak revenue guidance.
Rivian lost 4%Rivian share price fell over reports of lay-off ahead of earnings release, weak volume growth anticipated.
Robinhood lost 5%Robinhood share price fell sharply over reports of a $30 million fine due to poor cybersecurity.
Shopify lost 8%Shopify share price fell sharply over reports of weak merchant growth amid declining consumer spending.
Twilio fell 6%Twilio share price fell sharply following the reports of user data exposure after a cyberattack on its servers.
Unity gained 1%Unity share price surged over reports of a $17.5 billion acquisition offer by AppLovin.
Upstart crashed 12%Upstart share price fell sharply over weak business growth guidance for 2nd half of 2022.
WeWork lost 8%WeWork share price lost all the gains of last week amid analysts caution on earnings recovery, profitability.
Workhorse crashed 24%Workhorse stock price crashed post reporting weaker-than-expected June quarter earnings, concerns over margins in September quarter.
Zoom lost 8%Zoom share price witnessed technical sell-off amid weakness in tech & growth stocks ahead of inflation data.
  • Why did chip stocks decline?

  • Why is Occidental Petroleum on rise?

  • Why did Shopify tank yesterday?

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