Wall Street Mixed as AI Concerns Hit Big Tech
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- US stock futures resumed declines with AI concerns cited as the catalyst stalling the broader tech rally, per Bloomberg's headline
- The Dow rose while the Nasdaq slipped in divergent directions as PCE inflation data came in hot, per Yahoo Finance
- Big Tech faltered during the session, dragging on the Nasdaq even as blue-chip industrials held up
- Chipmakers posted falls even as broader US equities moved to break a multi-session losing streak, per Financial Times
- Wall Street ended mixed overall, anchored by declines in tech megacaps rather than a broad-based selloff
Why it matters: Hot PCE tightens the Fed's rate-cut calculus, and AI-exposed megacaps are losing their leadership role — the Dow-Nasdaq split shows investors are rotating rather than dumping equities wholesale, punishing anyone concentrated in Big Tech or semiconductors.
