The Dow Jones Industrial Average opened down 0.6%, the S&P 500 down 0.9%, and the Nasdaq down 1.3%.

Qualcomm fell by 9.6%, with Q2 performance guidance falling short of expectations. Wolfspeed dropped by 22.7%, with Q2 earnings per share and sales both below expectations. Google dropped by 6.2%, with financial reports exceeding expectations but with capital expenditure guidance skyrocketing. Nio rose by 7.1%, recording adjusted operating profit for the first time in a single quarter. Dingdong Maicai fell by 13.5%, as Meituan plans to acquire the company for $717 million.