The roller-coaster ride for AI stocks snapped lower again and weighed on Wall Street.
The S&P 500 fell 0.4 percent Tuesday, even though the majority of stocks within the index rose. The drops for stocks in the artificial-intelligence industry dragged the Nasdaq composite down 1.2 percent, while the Dow Jones Industrial Average dipped 0.2 percent.
The weakness began in Asia, where Samsung Electronics tumbled 6.9 percent in Seoul despite offering what analysts called a strong forecast for upcoming results. AI stocks worldwide have been under pressure because of worries their prices shot too high.
Stocks also felt pressure from rising oil prices.
On Tuesday:
The S&P 500 fell 33.58 points, or 0.4 percent, to 7,503.85.
The Dow Jones Industrial Average fell 130.76 points, or 0.2 percent, to 52,925.15.
The Nasdaq composite fell 302.47 points, or 1.2 percent, to 25,818.69.
The Russell 2000 index of smaller companies fell 27.05 points, or 0.9 percent, to 2,982.49.
For the week:
The S&P 500 is up 20.61 points, or 0.3 percent.
The Dow is up 25.08 points, or less than 0.1 percent.
The Nasdaq is down 13.98 points, or 0.1 percent.
The Russell 2000 is down 13.62 points, or 0.5 percent.
For the year:
The S&P 500 is up 658.35 points, or 9.6 percent.
The Dow is up 4,861.86 points, or 10.1 percent.
The Nasdaq is up 2,576.70 points, or 11.1 percent.
The Russell 2000 is up 500.58 points, or 20.2 percent.
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