The S&P 500 and the Nasdaq Composite fell for a second straight day as disappointing earnings from mega-cap chipmaker Advanced Micro Devices (AMD) sparked a sell-off across the technology sector. However, the Dow Jones Industrial Average managed to close in positive territory thanks to well-received results from a high-priced health care stock.
After Tuesday's close, AMD said fourth-quarter earnings rose 40% year over year to $1.53 per share, while revenue was up 34% to $10.3 billion. Both figures were higher than Wall Street expected, thanks to a 39% increase in data center revenue.
