US EditionWall Street Swings with Worries About Tech Stocks and Discouraged US Shoppers
Concerns over AI disruption and Chinese competition pressured tech stocks while weaker U.S. consumer confidence and profit warnings weighed on markets, with the S&P 500 down 0.75%.
- On Tuesday, Wall Street’s main indexes dropped in a choppy session after a long weekend, with tech heavyweights leading declines as the Dow Jones Industrial Average fell 175.80 points, the S&P 500 lost 50.44 points, and the Nasdaq Composite dropped 258.44 points.
- Worries that AI could disrupt business models sparked a selloff last week in software firms, brokerages and trucking, intensified by Alibaba unveiling Qwen 3.5 on Monday and Chinese AI players.
- Nvidia-1.6%, Microsoft-1.3%, Intel-2.2%, AMD-5.2%, and the Philadelphia SE Semiconductor index fell 2.3% on Tuesday, dragging tech lower.
- Financial stocks were a bright spot as the S&P 500 financials index rose 0.8%, with Goldman Sachs and JPMorgan Chase gaining 0.7% and 1.1%, while traders priced a 25-basis-point reduction in June with odds at 52%, ahead of this week’s personal consumption expenditures report.
- Amid weak household confidence, General Mills sank 7.2% after cutting its profit forecast, Genuine Parts reported weaker results, Masimo surged about 34% on a $9.9 billion acquisition, and Norwegian Cruise Line jumped nearly 8% after activist investor Elliott built a more than 10% stake.
25 Articles
25 Articles
Idaho Press
Wall Street swings with worries about tech stocks and discouraged US shoppers
U.S. stocks are swinging as companies talk about how discouraged their customers are feeling and some tech stocks continue to feel the downside of AI. The S&P 500 was flat Tuesday after flipping between a modest gain and a loss…
U.S. stocks edge higher after swinging through worries about AI and the economy
A quiet finish for the U.S. stock market on Tuesday masked big swings underneath the surface as companies talked about how discouraged their customers are feeling and some tech stocks continued to feel the downside of the artificial-intelligence boom.
Wall Street Falls as AI Worries Linger; Nvidia, Microsoft Down
Wall Street’s main indexes dropped in a choppy trading session on Tuesday after a long weekend, with tech heavyweights leading declines as investor concerns over AI-led upheavals across the sector persisted. Most U.S. technology stocks were lower on the day, with Nvidia losing 1.6% and Microsoft down 1.3%. Worries that artificial intelligence could disrupt business models had sparked a selloff in software firms, brokerages and trucking companies…
San Diego Union Tribune
Wall Street swings on worries about tech stocks and discouraged US shoppers
By STAN CHOE, AP Business Writer NEW YORK (AP) — The U.S. stock market is swinging in uneasy trading on Tuesday as companies talk about how discouraged their customers are feeling and tech stocks continue to feel the downside of the artificial-intelligence boom. Related Articles Elevate Prize winners gain more than $300K in funding. They learn to better tell their own stories Want lower home prices? Cut incentives …
The decline related to AI fears increases throughout the afternoon.
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