U.S. equities slipped midday Thursday as corporate earnings and fresh tariff announcements from President Donald Trump drove divergent moves in heavyweight names.
- LLY is breaking past support. Check the chart here.
The S&P 500 dropped 0.3% to 6,328, the Dow Jones Industrial Average slid 0.8% to 43,865, while the Nasdaq 100 held nearly unchanged at 23,307.
Apple Inc. (NASDAQ:AAPL) climbed by 3%, on top of the 5.1% gained Wednesday, as investors bet the tech giant could sidestep new import duties. The company pledged an additional $100 billion in U.S. manufacturing investments, building on a previously announced $500 billion.
The steepest intraday loss among mega-cap stocks came from Eli Lilly and Company (NYSE:LLY), which plunged 14%—its worst single-day performance since August 2000.
While second-quarter earnings beat expectations and the company raised guidance, investor focus shifted to new trial data for orforglipron, its experimental oral GLP-1 weight-loss pill. The drug yielded 12.4% average weight loss, below the 13-15% range analysts were hoping for.
The drop erased more than $100 billion in market capitalization.
The chipmaking sector also notable sharp moves after Trump announced …