The US stock market faced a notable downturn as major indexes struggled to maintain gains, primarily due to a selloff in technology shares. The Dow Jones dropped significantly, losing over 500 points at one stage, while the S&P 500 and Nasdaq also fell, shedding 1% and more than 1.5%, respectively. Following disappointing earnings from companies like PayPal, the tech sector led the decline, prompting investors to rotate out of technology stocks into other sectors. Despite some positive performance from firms like Palantir, the overall sentiment remained cautious as the market grappled with a wave of tech earnings and concerns over ongoing government issues. Precious metals like gold and silver saw a rebound amidst the turbulent market conditions.