[New York Stock Market Briefing] Semiconductor Stocks 'Fluctuate' on TSMC Earnings... NVIDIA Drops Over 2%

The New York stock market fell in unison. It is interpreted that the market declined as profit-taking expanded amid a differentiated market ahead of the Consumer Price Index (CPI) announcement. In particular, the earnings of TSMC, the world's largest foundry, raised concerns in the semiconductor market, causing the market to falter.

On the 10th (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 44,247.83, down 154.10 points (0.35%) from the previous day. The large-cap benchmark Standard & Poor's (S&P) 500 Index fell 17.94 points (0.30%) to 6,034.91, and the tech-heavy Nasdaq Composite Index dropped 49.45 points (0.25%) to 19,687.24.

The Nasdaq index rose to 19,887.08 during the day, setting a new all-time high in just two trading days, but then turned downward. The S&P 500 and Nasdaq indices fell for two consecutive trading days, while the Dow index fell for four consecutive trading days.

NVIDIA's stock, the 'AI giant,' influenced the three major indices as it shifted from a 2% rise to a 3% decline. NVIDIA closed at $135.07, down 2.69%. This followed news that Chinese regulators were investigating NVIDIA for antitrust violations, which had already caused a 2.55% drop the previous day. NVIDIA's performance over the past month has retreated by -7.02%.

Although TSMC, the world's largest semiconductor foundry, reported a 34% increase in November sales compared to the same period last year, it decreased by 12.2% compared to October, dragging down semiconductor stocks including NVIDIA. TSMC's stock fell 3.66%, and as a result, Broadcom dropped 3.98%, AMD 2.39%, Qualcomm 2.66%, and Intel 3.12%.

However, Apple's stock, the company with the largest market capitalization, rose to $248.21 during the day, setting a new all-time high in just one day. It also closed 0.41% higher than the previous day, breaking the highest closing price record of $247.77. Citigroup selected Apple as the top pick for 2025, forecasting that "the service business will expand and product sales will slightly decrease."

Google's parent company Alphabet's stock jumped 5.59% thanks to the unveiling of its self-developed quantum chip 'Willow.'

On the following day, the 11th, the November Consumer Price Index (CPI) will be announced. The November CPI is the last major economic indicator before the Federal Reserve's December monetary policy meeting.

Shin Min-kyung, Hankyung.com reporter radio@hankyung.com