Palantir Weighs On Wall Street, Bitcoin Slumps 5%: What’s Moving Markets Tuesday?
Risk appetite cooled on Tuesday as investors interpreted the latest batch of corporate earnings as solid but not spectacular, offering a convenient excuse to take profits after strong year-to-date rallies.
Palantir Technologies Inc. (NASDAQ:PLTR), one of the poster children of this year’s AI-fueled rally, slumped more than 7% despite easily beating Wall Street estimates and raising its full-year guidance. Analysts indicated that the stock’s 170% surge in 2025 has prompted some sell-the-news behavior.
The Nasdaq 100 tumbled 1.6% to 25,570 by midday in New York, while the S&P 500 fell 1%. The less tech-heavy Dow Jones Industrial Average fared slightly better but still lost 0.7%.
Uber Technologies Inc. (NYSE:UBER) was another major drag on Wall Street, falling 6.5% after its latest earnings release disappointed investors.
In currency markets, the U.S. dollar extended its advance, with the DXY index breaking above 100 for the first time since late May, reflecting a broader shift toward risk aversion.
The stronger greenback weighed on commodities: gold slipped 0.9% to around $3,960 an ounce, while silver dropped 1.5% to $47.
The selloff deepened in crypto markets for a second straight day. Bitcoin (CRYPTO: BTC) sank over 5% to $101,000, touching its lowest …
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