Dow Drops Amid Inflation Fears, Mixed Bank Earnings; Nvidia Lifts Nasdaq

U.S. markets saw mixed performance on Tuesday, July 15, as the Dow Jones Industrial Average fell over 300 points, driven by inflation concerns and a mixed bag of corporate earnings. Meanwhile, the Nasdaq Composite gained ground, significantly boosted by a surge in Nvidia shares.

The 30-stock Dow lost 0.5%, while the Nasdaq jumped 0.5% after chipmaker Nvidia announced plans to ‘soon’ resume H20 GPU sales to China, sending its stock up more than 4%. The S&P 500 dipped slightly by 0.1%, easing from an earlier record high.

June’s inflation data, released Tuesday, showed the consumer price index (CPI) rose 0.3% month-over-month, matching expectations and pushing the annual inflation rate to 2.7%. Core CPI, excluding volatile food and energy prices, increased 0.2% monthly and 2.9% annually, aligning with estimates. Analysts noted that these figures, the highest in four months for both headline and underlying inflation, were likely impacted by President Donald Trump’s announcement of a 30% tariff on EU and Mexican goods, set to begin August 1.

On the earnings front, major financial institutions delivered mixed results. Wells Fargo shares declined over 4% despite beating earnings, due to reduced net interest income guidance. JPMorgan Chase also edged lower, although it reported stronger-than-expected second-quarter results. BlackRock slipped more than 6% after missing revenue estimates. Bucking the trend, Citigroup rose about 1% after surpassing second-quarter expectations.

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