NEW YORK (AP) — Oil prices sank again Tuesday and pulled below $80 per barrel for the first time since early March, while the U.S. stock market drifted near its all-time highs in mixed trading.
The S&P 500 slipped 0.4% and pulled 1.1% below its record set earlier this month. More stocks rose than fell on Wall Street, and the Dow Jones Industrial Average climbed 391 points, or 0.8%, toward another record. But drops for some influential tech stocks had the Nasdaq composite down 0.7%, with an hour remaining in trading.
Stocks that had benefited from the boom in artificial-intelligence technology weighed on the market following their vicious swings over the last couple weeks. They have been leading the market up and down amid worries that their stock prices shot too high, too quickly in the mania around AI. That's taken a toll because chip companies and other AI winners have grown so big that they've become some of Wall Street's most influential stocks.
