Wall Street ends mixed as investors rotate out of semiconductor stocks
Wall Street closed mixed as investors moved funds from chipmakers to cyclical sectors, boosting the Dow while the Nasdaq dipped.
Wall Street indexes delivered a mixed performance as investors shifted capital away from semiconductor companies into cyclical, economically sensitive sectors. The Dow Jones Industrial Average led gains, closing up 1 percent, while the S&P 500 edged higher by 0.2 percent. In contrast, the tech-heavy Nasdaq Composite slipped 0.2 percent amid a sharp sell-off in major chipmaker shares.
Micron dropped 8.9 percent and AMD fell 8.2 percent, whereas Nvidia recovered slightly to finish 0.3 percent higher. The market rotation coincided with falling crude oil prices, offering support to broader market sentiment despite pressure on technology stocks.
Sources: Sweden Herald.