Drops for computer chipmakers and other AI winners dragged down stock markets worldwide.
The S&P 500 fell 0.5% Thursday, even though more stocks rose within the index than fell. The Dow Jones Industrial Average dipped 0.2%, and the Nasdaq composite lost 1.5%.
Wall Street mostly rose after more U.S companies reported better earnings for the latest quarter than analysts expected. But drops for Nvidia and other chip companies overshadowed them.
The losses were sharper in South Korea, where AI winners whipped lower.
Yields rose in the bond market, and oil prices erased an early gain to dip modestly.
On Thursday:
The S&P 500 fell 38.63 points, or 0.5%, to 7,533.77.
The Dow Jones Industrial Average fell 105.67 points, or 0.2%, to 52,552.97.
The Nasdaq composite fell 387.28 points, or 1.5%, to 25,881.95.
The Russell 2000 index of smaller companies fell 1.69 points, or 0.1%, to 2,974.57.
For the week:
The S&P 500 is down 41.62 points, or 0.5%.
The Dow is down 84.04 points, or 0.2%.
The Nasdaq is down 399.66 points, or 1.5%.
The Russell 2000 is down 3.24 points, or 0.1%.
For the year:
The S&P 500 is up 688.27 points, or 10.1%.
The Dow is up 4,489.68 points, or 9.3%.
The Nasdaq is up 2,639.96 points, or 11.4%.
The Russell 2000 is up 492.66 points, or 19.9%.
