US stocks open mixed as tech sector faces early losses; Dow up 180 points

US equities opened on Tuesday (February 17) on mixed footing, with technology stocks leading early declines. Wall Street remains cautious following a week of losses, with investors reacting to recent volatility in AI-related stocks.

The S&P 500 slipped 0.2% at the opening bell, while the tech-heavy Nasdaq Composite was down 0.7%. The Dow Jones Industrial Average advanced 180 points, or 0.4%, supported by its relatively lower exposure to technology names.

Among individual stocks, Meta Platforms and Nvidia fell around 0.4% each, while Palantir Technologies dropped more than 2%. Memory chip makers, including Micron Technology and Sandisk, also opened lower despite strong performance earlier this year.
General Mills sank after the company behind the Cheerios, Nature Valley and Pillsbury brands said customers are feeling less confident. Warner Bros. Discovery rose after saying it was trying to get a “best and final” buyout offer from Paramount.Also Read: Indian negotiator to visit US next week as Delhi pushes to seal trade deal

US markets were closed for Presidents’ Day on Monday (February 16).

Coming later this week is the government’s latest inflation report and the first estimate of how the broader US economy performed in the fourth quarter.

Elsewhere, European shares were mixed after a quiet day in Asia, where most markets were closed for Lunar New Year holidays. France’s CAC 40 ticked down 0.1% in midday trading, while Germany’s DAX was flat and Britain’s FTSE 100 picked up 0.2%.

Weak economic data for Japan appeared to be clouding sentiment in Tokyo, and a 5.1% decline for tech giant SoftBank Group also pulled shares lower. The decline follows a big rally after a resounding win for Prime Minister Sanae Takaichi’s ruling party in a Feb. 8 general election.

Also Read: China’s AI surge could challenge US tech dominance, analysts warn of a tech shock