01:31 PM EDT, 08/19/2025 (MT Newswires) -- US equity indexes traded mixed after midday Tuesday as a decline in the so-called Magnificent 7 tech giants pushed technology and communication services lower, while Home Depot's ( HD ) results helped limit the downside for the Dow Jones Industrial Average.

The Nasdaq Composite dropped 1.4% to 21,318.5 following an intraday decline in six Mag-7 stocks, including Nvidia ( NVDA ) , which was down 3.2%. The S&P 500 fell 0.6% to 6,407.6 while the Dow Jones Industrial Average was little changed at 44,900.3. Real estate and consumer staples were among the biggest gainers intraday.

On Tuesday, US Secretary of Commerce Howard Lutnick confirmed that the Trump administration is seeking a stake in Intel ( INTC ) , CNBC reported. Lutnick cited national security concerns as the reason behind the potential investment. The government may convert part of its previously committed $8 billion in CHIPS Act grants into an equity investment of up to 10% in Intel ( INTC ), a UBS Securities note cited media reports.

Separately, Intel ( INTC ) will receive a $2 billion equity investment from SoftBank Group at $23 per common share, the companies said. Shares of the chipmaker jumped 6.5% intraday, the top gainer on the S&P 500 and the Nasdaq.

In exchange for lifting export restrictions, Nvidia ( NVDA ) and AMD (AMD) recently agreed to pay 15% of their revenue to the US government from specific artificial intelligence chips sold to China.

In earnings news, Home Depot ( HD ), kicking off quarterly results of bulge-bracket retailers, reported higher fiscal Q2 adjusted earnings and net sales on Tuesday. Shares jumped 3.1% intraday, the top gainer on the Dow.

In geopolitical news, the US could offer air support to Ukraine in the form of defence assistance in the event of a peace deal with Russia, but not send US troops to Ukraine to enforce a peace deal, according to media reports.

President Donald Trump said he "sort of set up" a meeting between Ukrainian President Volodymyr Zelensky and Russian President Vladimir Putin, but that they "have to call the shots," CNN reported. The Kremlin reiterated its refusal to commit to a meeting but stopped short of ruling out further talks, the report said.

West Texas Intermediate crude oil futures dropped 1.6% to $62.41 a barrel.

Gold futures fell 0.5% to $3,361.1 per ounce, and silver futures dropped 1.9% to $37.31.

Meanwhile, investors shifted focus to the Jackson Hole Symposium, which starts Thursday, where dovish signals could revive expectations of a September interest-rate cut. Traders are awaiting the Federal Reserve's July meeting minutes on Wednesday and Fed Chair Jerome Powell's Jackson Hole speech on Friday.

By Tuesday afternoon, the odds of a 25-basis-point cut in September stood at 85%, according to the CME FedWatch Tool. The remaining 15% probability is for the rates to remain unchanged, versus 41% a month earlier.

Most US Treasury yields fell, with the 10-year yield down 3.5 basis points to 4.31% and the two-year rate slid 2.5 basis points to 3.75%.

In economic news, July housing starts rose by 5.2% from the previous month to a 1.428 million annual rate, compared with expectations compiled by Bloomberg for a 1.297 million rate after an increase to a 1.358 million pace in June.

Building permits fell by 2.8% to a 1.354 million rate in July, compared with the 1.386 million rate expected and following a decline to a 1.393 million rate in June.