All three major U.S. stock indexes closed lower, with the Dow Jones Industrial Average down 1.17%.

The three major US stock indexes all closed lower: the Dow fell 1.17%, the Nasdaq fell 0.32%, and the S&P 500 Index fell 0.58%. The optical communications sector surged, with Lumentum rising over 11%, Corning up over 7%, and Coherent up more than 7%. AI computing power leasing companies performed well, with CoreWeave up more than 11% and Nebius up over 7%. Intel rose more than 9% as the company plans to raise PC CPU prices by 10%. Novartis fell over 13% after suffering its third clinical trial setback within a week.