Wall Street falls as chip stocks rise, Alphabet gains on new AI chip report

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Wall Street falls as chip stocks rise, Alphabet gains on new AI chip report
Photo: Mark Lennihan/AP/TT

At the close, the broad S&P 500 index had fallen 0.2 percent, while the tech-heavy Nasdaq composite index was down 0.1 percent. The Dow Jones industrial average ended down 0.6 percent.

Chip companies were the main drivers, including Micron Technology, which rose 1.9 percent, and Broadcom, up 2 percent. Stock giant Nvidia rose 0.2 percent.

Google's parent company Alphabet also gained after reports that the company is developing a new chip that will make its AI model Gemini much more efficient. The stock rose 1.5 percent.

The tense situation in the Persian Gulf continues to affect oil prices. A barrel of North Sea oil cost $89 at 10 p.m.

In early morning trading, Brent oil cost a maximum of $91.40 per barrel.

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

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