The Dow Jones Industrial Average closed up 0.4% at 51,983, while the S&P 500 fell 0.5% to 7,541 and the Nasdaq Composite dropped 1.1% to 25,164 amid a risk-off mood for AI stocks. Optimism about peace in the Persian Gulf grew after Axios reported that President Trump is open to diplomacy and IRNA said Supreme Leader Mojtaba Khamenei allowed Iran's government to engage in peace negotiations. WTI crude fell 8% to $95.84 per barrel, and the 10-year Treasury yield declined 2.5 basis points to 4.904%. Marvell Technology (MRVL) fell 12.7% after agreeing to buy Lumentum Holdings (LITE), which fell 18.6%; the deal values LITE at about $1,132 per share, a premium of roughly 24%. The article also flags the midterm elections on Tuesday and the October jobs report on Friday as possible sources of volatility.
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Dow JonesNasdaqoil pricesIranartificial intelligencemergers and acquisitions
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Related tickers and likely impact
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 11/02/2026 | 681.13 |
| Change that session | -1.36% |
NVDA
▼ Likely negativeNvidia
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Semiconductors |
| Market cap | $5.1T |
| Close on 11/02/2026 | 202.06 |
| Change that session | -1.26% |
MSFT
▼ Likely negativeMicrosoft
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Systems Software |
| Market cap | $3.9T |
| Close on 11/02/2026 | 507.12 |
| Change that session | -2.83% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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