The three major U.S. stock indexes collectively closed lower.

The three major US stock indexes collectively fell, with the Dow falling 1.56%, the Nasdaq falling 1.78%, and the S&P 500 index falling 1.52%. The banking sector saw a large decline, with Deutsche Bank falling more than 6%, Barclays Bank falling nearly 6%, and Morgan Stanley and Goldman Sachs falling more than 4%; most chip stocks fell, with Intel falling more than 5%, SanDisk falling more than 5%, and TSMC falling 5%.