Stock market today: Wall Street holds steadier a day after big drop in tech stocks

NEW YORK — Wall Street is holding steadier following the worst day for big technology stocks since 2022. The S&P 500 was up 0.2% in early trading Thursday, and the Nasdaq composite was up 0.6%. The Dow Jones Industrial Average slipped 58 points, or 0.1%. Nvidia was up 2.5% after a 6.6% slump a day earlier. Domino’s Pizza dropped 11.4% after suspending its forecast for how many stores will open globally. Chuy’s jumped 48% after Darden Restaurants said it would buy the Tex-Mex chain.

Chuy's jumped 47% after Darden Restaurants announced Wednesday that it was buying the Tex-Mex chain in a $605 million deal. Shares of Darden, which owns Olive Garden, LongHorn Steakhouse and a suite of other chains, fell less than 1% before the bell. At midday, France's CAC 40 was up 0.5%, Germany's DAX inched up 0.2% and Britain's FTSE 100 added 0.6%.The markets' spotlight was squarely on chip companies after a report from Bloomberg News said U.S. President Joe Biden is considering the most severe trade restrictions available if companies like the Netherlands’ ASML and Japan’s Tokyo Electron continue to ship advanced semiconductor technology to China.

The strengthening yen also added to worries about exporter shares in Japan, as a weak yen is a boon for the nation’s giant exporters like Toyota Motor Corp. Japan posted a trade surplus in June, the first in three months, highlighting a recovery in exports, according to Finance Ministry data. For the first six months of this year, Japan’s trade deficit declined by more than half from the same period last year, to 3.23 trillion yen .

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