Update: US Equity Indexes Mixed Amid Sliding Crude Oil, Technology

03:51 PM EST, 11/02/2026 (MT Newswires) -- (Updates with index/price moves and company/geopolitical news from the first paragraph.) US equity indexes traded mixed as crude oil plunged and the technology sector extended Friday's declines. The Nasdaq dropped 1% to 25,176.2, the S&P 500 fell 0.4% to 7,546.3, while the Dow Jones Industrial Average rose 0.5% to 52,032.6. Iran's President Masoud Pezeshkian said the country's supreme leader further empowered the government to pursue peace talks, as US President Donald Trump hinted at progress in negotiations, Bloomberg reported. The front-month West Texas Intermediate crude oil contract plummeted 7.6% to $96.17 per barrel, and global benchmark Brent plunged 8.1% to $104.29 per barrel. All sectors except energy and technology rose in the final leg. The iShares PHLX Semiconductor Exchange Traded Fund, with about $48.43 billion in assets under management, slumped 3.6%, reflecting heavy selling in the chip-making industry-related names. In company news, Marvell Technology (MRVL) has agreed to buy optical and photonic products maker Lumentum (LITE) in an all-stock deal worth about $115 billion, as the companies aim to create a leader in AI connectivity. Lumentum shares plunged 18%, and Marvell slumped 13%, the Nasdaq and S&P 500's worst performers. US Treasury yields were mixed, with the two-year little changed at 4.58%, the 10-year rate down 3.5 basis points to 4.89%, and the 30-year retreated 3.6 basis points to 5.27%.