As market concerns about whether AI trading can continue heated up, the sell-off in chip stocks intensified, putting pressure on US stocks. Meanwhile, Wall Street Bank kicks off the earnings season. In the new round of volatility, a major semiconductor stock index that has received much attention fell 1.3%, and the Nasdaq 100 index fell about 0.4%. The weakening of technology stocks was partially offset by gains in several other sectors. The Dow Jones Industrial Average rose, and the S&P 500 index remained basically flat. Stocks linked to the AI boom have recently come under pressure because the market is also facing multiple concerns about increased competition, rising interest rates, high valuations, and the huge cost of building AI infrastructure. Cathie Wood of ARK Investment Management LLC said that the memory chip industry is prone to “vicious” boom and bust cycles.

As market concerns about whether AI trading can continue heated up, the sell-off in chip stocks intensified, putting pressure on US stocks. Meanwhile, Wall Street Bank kicks off the earnings season. In the new round of volatility, a major semiconductor stock index that has received much attention fell 1.3%, and the Nasdaq 100 index fell about 0.4%. The weakening of technology stocks was partially offset by gains in several other sectors. The Dow Jones Industrial Average rose, and the S&P 500 index remained basically flat. Stocks linked to the AI boom have recently come under pressure because the market is also facing multiple concerns about increased competition, rising interest rates, high valuations, and the huge cost of building AI infrastructure. Cathie Wood of ARK Investment Management LLC said that the memory chip industry is prone to “vicious” boom and bust cycles.