Chip manufacturers lead the market lower, as Nvidia's earnings failed to boost investors' confidence in the AI outlook. Despite previously issuing optimistic forecasts, the stock still fell by 5%. The Nasdaq 100 index declined by 1.5%, and the S&P 500 index also dropped, even though 330 of its components rose. Salesforce issued a strong long-term sales outlook and announced a large-scale stock buyback plan, which somewhat offset the overall market decline.