The three major U.S. stock indexes closed down collectively, with the Nasdaq down 2.04%, the largest single-day drop since March 11; the S&P 500 fell 1.12%, and the Dow fell 0.31%. The Philadelphia Bank Index closed down 0.8%, ending its previous eight-day rise. Large technology stocks fell across the board, with Tesla and Nvidia falling more than 5%, Intel and Google falling more than 3%, Amazon, Meta, and Netflix falling more than 2%, Microsoft falling more than 1%, and Apple falling slightly.