S&P 500, Nasdaq end sharply lower as revived AI doubts ignite tech selloff
Investors fled technology shares as worries over AI spending and higher borrowing costs deepened, while Brent crude jumped 4% on supply fears, analysts said.
- The S&P 500 fell 0.8% and the Nasdaq dropped 1.5% as concerns about expensive artificial-intelligence investments triggered a technology-stock selloff.
- Lam Research fell 7.7% despite stronger-than-expected summer profit and revenue after its forecast came in slightly below analysts’ expectations.
- Meta Platforms dropped 5.8% after reporting stronger revenue but weaker-than-expected profit, while Nvidia fell 2.3% and Tesla rose 0.3%.
- Oil prices rose amid concerns about the war with Iran, while the 10-year U.S. Treasury yield fell as investors sought safer assets.
383 Articles
383 Articles
Wall Street drifts as Broadcom and other AI-related stocks support the market
Wall Street is holding relatively steady as AI stocks support the market, at least for now. The S&P 500 rose 0.1% Tuesday. The Dow Jones Industrial Average dipped 45 points, and the Nasdaq composite rose 0.3%. The majority of stocks…
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Wall Street drifts as Broadcom and other AI-related stocks help support the market
Wall Street is holding relatively steady as AI stocks help support the market, at least for now. The S&P 500 rose 0.3% Tuesday. The Dow Jones Industrial Average dipped 9 points, and the Nasdaq composite rose 0.5%. The majority of…
US stocks tick higher as Broadcom and other AI companies lift the market
Wall Street is ticking higher as AI stocks support the market. The S&P 500 rose 0.5% Tuesday. The Dow Jones Industrial Average added 27 points, and the Nasdaq composite rose 0.9%. The majority of stocks within the S&P 500 were falling, but gains for several influential AI stocks made up for that. Broadcom climbed after announcing a financing deal that will give Anthropic access to its AI chips. JetBlue and Royal Caribbean Group rose following their profit reports, helping to offset drops for Boeing and Hilton. Treasury yields held relatively steady a day before the Federal Reserve will announce a decision on interest rates.
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