Stocks closed sharply lower Thursday as megacap tech stumbled ahead of Nvidia earnings next week and traders braced for spotty economic data to emerge as the U.S. government reopens.

The Dow and the S&P 500 climbed, while the Nasdaq fell, as the stock market awaits more news on the government shutdown.

Affirm Holdings AFRM popped more than 7% after the company topped fiscal first-quarter earnings and revenue estimates and ...