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Nasdaq, S&P end lower as tech stocks fall

The Nasdaq and S&P 500 ended lower on Wednesday as tech stocks fell due to concerns over AI valuations and spending. The Dow Jones Industrial Average rose 187.97 points to 51,854.81. Markets later saw after-hours recovery following strong earnings from Micron.

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What changed

Tech shares declined over two days before recovering after-hours on Micron results.

Live updates

  1. Nasdaq and S&P 500 Close Lower Amid Tech Sell-Off

    The Nasdaq and S&P 500 ended lower on Wednesday as tech stocks fell due to concerns over AI valuations and spending. The Dow Jones Industrial Average rose 187.97 points to 51,854.81. Markets later saw after-hours recovery following strong earnings from Micron.

    What's confirmed:

    • The Nasdaq and S&P 500 closed lower on Wednesday.
    • The Dow Jones Industrial Average rose 187.97 points, or 0.36 per cent, to 51,854.81.
    • Tech stocks declined for two consecutive days.
    • The sell-off was driven by concerns regarding AI spending and valuations.
    • The South Korean market plunged 10%.
    • S&P 500 and Nasdaq indices recovered after-hours following strong Micron earnings.

    Still unconfirmed:

    • A total of $1.3 trillion was lost in a rout caused by AI jitters.
    • The current tech sell-off may be a blip.
    • Oil prices fell to Iran War lows.
    confidence 90%