Dow Rises on Bank Earnings; Chip Stocks Sell Off — SkimNews
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- Dow rose on a deluge of US bank earnings, per multiple outlets covering the session, even as the broader market split on direction.
- Micron, Sandisk, and SK Hynix led a chip-stock selloff that dragged the Nasdaq lower, with headlines across Investor's Business Daily, CNBC, and Reuters all flagging AI jitters and semiconductor weakness as the catalyst.
Why it matters: The session's sector divergence — financials rallying on earnings while memory-chip names cratered on AI-demand concerns — marks a rotation where AI-revenue skepticism overrode strong traditional-bank results, hitting semiconductor investors hardest while bank shareholders gained.
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