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The Economic Times
The Economic Times
Business

US Stock: S&P, Nasdaq end lower on semiconductor selloff as AI spending concerns mount

Nasdaq Semiconductor United States US Federal Reserve SpaceX

The Nasdaq and the S&P 500 closed at more than one-week lows on Tuesday, dragged down by sharp losses in semiconductor stocks as investors scrutinized growing debt-funded AI spending and braced ‌for a ⁠more hawkish ⁠U.S. Federal Reserve. The Dow ended slightly lower.

The Philadelphia SE Semiconductor index and the S&P 500 information tech sector index both fell.

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