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Sinking AI Stocks Pull Wall Street Further From Its Record
The S&P 500 fell 0.5% as investors sold high-flying chipmakers and stayed wary of elevated borrowing costs, with the Nasdaq down 1.1%.
- Wall Street pulled further from its all-time high on Tuesday as AI stocks sank, with the Nasdaq composite falling 1.1% and major indexes tracking toward a third straight loss.
- Leading the decline were big tech winners like Micron Technology, which dropped 3.5%, Nvidia, which fell 1.6%, and Broadcom, which sank 2.2%, as investors fear AI profitability may fall short of current expectations.
- Rising Treasury yields are pressuring expensive stocks, as the 10-year yield held at 4.72% on Monday and the 30-year yield remains near its highest level since 2007.
- The price for a barrel of Brent crude rose 0.6% to $91.45 amid uncertainty over the war with Iran, fueling inflation and pressuring central banks to maintain higher rates.
- South Korea's Kospi index fell 1.5%, as tech giants Samsung Electronics and SK Hynix struggled, illustrating how the bond market's influence continues to sway leaders worldwide, including President Donald Trump.
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15 Articles
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US stock market today: Wall Street pulls back from record highs as AI-related stocks drop
US stock market today: The decline was led by several of the market's biggest recent winners, particularly companies that have benefited from the surge in artificial-intelligence spending.
·India
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Sinking AI stocks pull Wall Street further from its record
NEW YORK (AP) — Wall Street is pulling further from its all-time high on Tuesday as AI stocks get back to sinking.The S&P 500 fell 0.5% and is on track for a third straight modest loss since setting its all-time high on Thursday. The Dow Jones Industrial Average was down 33 points, or 0.1%, as of 10:15 a.m. Eastern time, and the Nasdaq composite was 1.3% lower.Leading the way lower were stocks that have been big winners in the boom around artifi…
·Miami, United States
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Total News Sources15
Leaning Left4Leaning Right2Center8Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
L 29%
C 57%
14%
Factuality
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