Dramatic fluctuations in artificial intelligence stocks created chaos on Wall Street Tuesday, leading to mixed performance across major market indexes.
The S&P 500 dropped 0.3% after experiencing wild swings that saw the index jump 1% in early trading before plunging 2.3% by midday. Meanwhile, the Dow Jones Industrial Average managed a slight 0.2% increase, while the Nasdaq composite declined 1%.
Market volatility intensified when businesses involved in semiconductors, memory components, and other foundational AI technologies reversed course from morning gains to afternoon declines. The weakness in artificial intelligence stocks overshadowed benefits from falling crude oil prices, even though the majority of S&P 500 companies posted gains. Bond market activity showed Treasury yields declining slightly.
Tuesday’s closing numbers:
The S&P 500 declined 19.08 points, or 0.3%, finishing at 7,386.65.
The Dow Jones Industrial Average gained 86.10 points, or 0.2%, closing at 50,872.11.
The Nasdaq composite dropped 250.84 points, or 1%, ending at 25,678.82.
The Russell 2000 index of smaller companies increased 11.60 points, or 0.4%, to 2,867.02.
Weekly performance:
The S&P 500 has gained 2.91 points, or less than 0.1%.
The Dow has risen 5.33 points, or less than 0.1%.
The Nasdaq has fallen 30.61 points, or 0.1%.
The Russell 2000 has climbed 33.52 points, or 1.2%.
Year-to-date results:
The S&P 500 has advanced 541.15 points, or 7.9%.
The Dow has increased 2,808.82 points, or 5.8%.
The Nasdaq has gained 2,436.83 points, or 10.5%.
The Russell 2000 has jumped 385.12 points, or 15.5%.
