Wall Street stocks pulled back from record highs as flaring tensions in the Middle East and rising crude prices stoked inflation jitters and convinced investors to take some profits.
All three major US stock indexes closed in negative territory on Wednesday, dragged lower by financials and tech , with the small-cap Russell 2000 underperforming its larger-cap counterparts.
Chips gained 1.4 per cent, indicating the artificial intelligence fervor is alive and well. Even so, six of the Magnificent Seven group of AI-related megacaps ended lower. Meta Platforms was the sole gainer, rising 4.2 per cent.
