US Stock Market Today: NASDAQ Falls as AI Growth Concerns Pressure Tech Stocks and Chipmakers Slide
US stocks closed mixed as the NASDAQ fell 1.37% on AI growth concerns linked to OpenAI's reported slowdown, pressuring tech and chip stocks. The S&P 500 dropped 0.7%, while the Dow Jones rose 0.13%.
US stock markets traded unevenly as technology shares faced pressure. The NASDAQ Composite fell 1.37% to 24,547, and the S&P 500 dropped 0.7% to 7,120, while the Dow Jones Industrial Average rose 0.13% to 49,234. Technology stocks fell after reports suggested OpenAI had not met internal targets for weekly users and revenue. Chipmakers experienced sharp declines, with NVIDIA's stock dropping 3.2%, AMD falling 4.5%, and Arm Holdings declining 8.6%. Energy markets remained active as crude oil prices increased, with Brent crude futures rising above $110 per barrel. Several major companies released earnings results that contributed to stock movement, including UPS and General Motors.
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