The Nasdaq Composite fell by 1% as technology and gold-linked stocks came under selling pressure, erasing earlier gains from strong quarterly results. Shares of Palantir Technologies declined almost 7% amid valuation concerns, despite upgraded revenue guidance for FY2025. Broader weakness in semiconductor and software segments extended to other indices, with the S&P 500 also closing lower. Market analysts attribute the slide to investor rotation toward defensive assets and caution ahead of Federal Reserve communication, suggesting profit booking following a sustained rally in large-cap technology shares.