The Dow opened down 0.6%, the S&P 500 down 0.4%, and the Nasdaq down 0.4%.

Banking stocks fell, with Citigroup dropping 4.0%, First Capital Financial falling 7.2%, and JPMorgan Chase declining 2.2%. Trump called for a cap on credit card interest rates to be set at 10%. Walmart rose 2.7%, with AI shopping assistants set to be fully introduced and included in the Nasdaq 100 index. Kingsoft Cloud surged 14.8%, with DeepSeek-V4 expected to ignite a new wave of AI applications. Drawing Intelligence rose 4.5%, releasing its first AI companion concept product, the Aura robot.