Wall Street dips amid AI fever as chip stocks slide

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Wall Street dips amid AI fever as chip stocks slide
Photo: Richard Drew/AP/TT

The Dow Jones industrial average rose 0.6 percent to a new record high at the close. However, the broad S&P 500 index fell 0.6 percent and the tech-heavy Nasdaq composite index fell 1.2 percent.

At least temporarily, a chill sent several chip companies down. AMD fell 7.3 percent, Micron 6.2 percent and Broadcom 4.4 percent.

Industry peers Qualcomm and Nvidia fell 3.1 and 2.4 percent, respectively.

But the space company SpaceX continued to rise. After a 19 percent gain at its IPO on Friday and a 19.6 percent gain on Monday, it has now added another 4.8 percent.

The futures price of North Sea oil fell below $80 per barrel for the first time since March. It is now at $79.80 after a 4.1 percent drop on the day.

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By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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