Wall Street's flip from AI stocks to elsewhere accelerates, while oil prices keep easing

NEW YORK (AP) — Most of Wall Street is rising Tuesday, even as stocks of computer chipmakers continue to tumble worldwide. Oil prices, meanwhile, are easing further from the two-month high they hit last week.

The S&P 500 rose 0.3% in afternoon trading, but the modest move masked big swings underneath the surface. The Dow Jones Industrial Average was up 628 points, or 1.2%, as of 1:39 p.m. Eastern time. The Nasdaq composite, which is full of AI stocks, was mostly unchanged after briefly dropping 9.3% below its record set last month.

kAm%96 >2;@C:EJ @7 E96 &]$] >2C<6E C@D6 27E6C >@C6 4@>A2?:6D 56=:G6C65 DEC@?86C AC@7:ED 7@C E96 DAC:?8 E92? 2?2=JDED 6IA64E65] r@42\r@=2 4=:>365 c]bT 27E6C :ED C6G6?F6 C@D6 fT 56DA:E6 H92E rt~ w6?C:BF6 qC2F? 42==65 “2 5J?2>:4 4@?DF>6C =2?5D42A6]”k^Am

kAm$96CH:?\(:==:2>D C2==:65 g]gT[ 2?5 x==:?@:D %@@= (@C[ 2?5 6IA64E2E:@?D 2C6 9:89 7@C E9:D >@DE C646?E C@F?5 H:E9 E96 &]$] DE@4< >2C<6E DE:== ?62C :ED 2==\E:>6 9:89]k^Am

kAm$F49 6IA64E2E:@?D 2C6 H6:89:?8 A2CE:4F=2C=J 962G:=J @? DE@42<6CD 2?5 @E96C 4@>A2?:6D E92E 92G6 366? 9F86 H:??6CD 7C@> E96 3@@> 😕 k2 9C67lQ9EEADi^^2A?6HD]4@>^9F3^2CE:7:4:2=\:?E6==:86?46Qm2CE:7:4:2=\:?E6==:86?46k^2m E649?@=@8J]k^Am

kAm|:4C@? %649?@=@8J’D DE@4< 92D >@C6 E92? EC:A=65 E9:D J62C 7@==@H:?8 82?83FDE6C 8C@HE9[ 7@C 6I2>A=6] sFC:?8 E96 BF2CE6C E9C@F89 |2J ag[ :ED C6G6?F6 >@C6 E92? BF25CFA=65 7C@> 2 J62C 62C=:6C]k^Am

kAmqFE H@CC:6D 2C6 C:D:?8 23@FE H96E96C DF49 8C@HE9 😀 DFDE2:?23=6] q:8 DA6?56CD @? 4@>AFE6C >6>@CJ 4@F=5 AF== 324< @? E96:C :?G6DE>6?ED :7 px 5@6D ?@E AC@5F46 2D >F49 AC@7:E @C AC@5F4E:G:EJ 2D AC@>:D65] {@H6C\4@DE k2 9C67lQ9EEADi^^2A?6HD]4@>^2CE:4=6^49:?2\2:\>@56=\FD\<:>:\566AD66<\2__37ebfgee745c5g`7c756ag4hgea46Qmpx >@56=D 7C@> r9:?2k^2m 4@F=5 2=D@ >62? =6DD 56>2?5 7@C >6>@CJ 2?5 4@>AFE:?8 A@H6C E92? 62C=:6C 6IA64E65]k^Am

kAm|:4C@? 5C@AA65 g]hT 2?5 H2D E96 962G:6DE H6:89E @? E96 $U2>Aj! d__] ~E96CD 2=D@ 96=A:?8 E@ 5C28 E96 >2C<6E =@H6C H6C6 p5G2?465 |:4C@ s6G:46D[ 5@H? f]aT[ 2?5 pAA=:65 |2E6C:2=D[ 5@H? gT]k^Am

kAm%96 =@DD6D 7@C px 49:A DE@42C<6ED H@C=5H:56]k^Am

kAm$92CA 5C@AD 7@C $z wJ?:I 2?5 $2>DF?8 t=64EC@?:4D 5C28865 $@FE9 z@C62’D z@DA: :?56I 5@H? `_]gT] %96 >2C<6E’D =@DD6D H6C6 D@ 3:8 E92E EC25:?8 H2D E6>A@C2C:=J 92=E65 2E E:>6D 😕 $6@F=]k^Am

kAm“(6 36=:6G6 E96 >2C<6E H2D =:<6=J DA@@<65 3J E96 AC@8C6DD @7 r9:?2’D 49:A>2<:?8 6BF:A>6?E 42A23:=:E:6D[ 2?5 H2D H@CC:65 E92E E9:D AC@8C6DD H@F=5 E9C62E6? E96 4@>A6E:E:G6 A@D:E:@? @7 8=@32= 49:A>2<:?8 2?5 49:A 6BF:A>6?E =6256CD[” D2:5 6BF:EJ 2?2=JDE y:?8 y:6 *F @7 |@C?:?8DE2C]k^Am

kAm“%92E D2:5[ H6 36=:6G6 E96 D6==\@77 E@52J 😀 =2C86=J 2 66\;6C< C624E:@? 2?5 @G6C5@?6[” 96 D2:5] %96 5@>:?2?E A@D:E:@? @7 8=@32= 49:A>2<:?8 =6256CD 😀 F?=:<6=J E@ 36 E9C62E6?65 >62?:?87F==J[ 96 D2:5]k^Am

kAm$6G6C2= 9F86 DA6?56CD @? px 49:AD 2?5 52E2 46?E6CD 2C6 D4965F=65 E@ C6A@CE E96:C =2E6DE BF2CE6C=J C6DF=ED E9:D H66<[ H9:49 4@F=5 @776C FA52E6D @? 9@H >F49 E96JVC6 A=2??:?8 E@ :?G6DE] |6E2 !=2E7@C>D 2?5 |:4C@D@7E 2C6 C6A@CE:?8 @? (65?6D52J[ H9:=6 p>2K@? 😀 5F6 @? %9FCD52J]k^Am

kAmq642FD6 px DFA6CDE2C DE@4@G6>6?ED 42CCJ >@C6 H6:89E @? E96 $U2>Aj! d__ 2?5 @E96C :?56I6D E92? >2?J @E96C 4@>A2?:6D] qFE (2== $EC66E 4@F=5 9@=5 FA 56DA:E6 E96:C DH:?8D :7 @E96C[ =6DD\=@G65 2C62D @7 E96 >2C<6E 2C6 23=6 E@ <66A C:D:?8] xEVD 2 C@E2E:@? E92E D@>6 DEC2E68:DED 92G6 DF886DE65 4@F=5 36 962=E9J 7@C E96 @G6C2== DE@4< >2C<6E]k^Am

kAmx? E96 @:= >2C<6E[ E96 AC:46 7@C 2 32CC6= @7 qC6?E 4CF56 E@ 36 56=:G6C65 😕 ~4E@36C 76== c]eT E@ Sg`]hc]k^Am

kAmk2 9C67lQ9EEADi^^2A?6HD]4@>^2CE:4=6^@:=\AC:46D\4CF56\:C2?\D9:AA:?8\a7567h4_3dh5h_befa_e5`_b7_hbh5b_QmxEVD 366? 72==:?8k^2m D:?46 =2E6 =2DE H66<[ H96? E96 AC:46 7@C 2 32CC6= E@ 36 56=:G6C65 😕 $6AE6>36C 3C:67=J D9@E 2D 9:89 2D S`_a]k^Am

kAm!FD9:?8 FA @? AC:46D 92G6 366? H@CC:6D E92E H@CD6?:?8 7:89E:?8 😕 E96 |:55=6 t2DE 4@F=5 D=@H E96 8=@32= 7=@H @7 @:=] ~? E96 @E96C D:56[ E9@F89[ 2C6 9@A6D E92E E96 &?:E65 $E2E6D 2?5 xC2? 4@F=5 DE:== ?68@E:2E6 D@>6E9:?8 E@ 2==@H @:= E2?<6CD E@ FD6 E96 $EC2:E @7 w@C>FK E@ >@G6 4CF56]k^Am

kAm{@H6C @:= AC:46D 96=A65 E@ 62D6 %C62DFCJ J:6=5D 😕 E96 3@?5 >2C<6E] %96 J:6=5 @? E96 `_\J62C %C62DFCJ 76== E@ c]e_T 7C@> c]edT =2E6 |@?52J]k^Am

kAmp H62<6C\E92?\6IA64E65 C625:?8 @? k2 9C67lQ9EEADi^^2A?6HD]4@>^2CE:4=6^64@?@>J\4@?DF>6C\4@?7:56?46\:?7=2E:@?\:C2?\`3cdgebadc3427a`c5_c`5_63276hdbeQm4@?7:56?46 2>@?8 &]$] 4@?DF>6CDk^2m 2=D@ H6:8965 @? J:6=5D] u6H6C 4@?DF>6CD 2C6 D2J:?8 E96J 766= 8@@5 23@FE 4FCC6?E 3FD:?6DD 4@?5:E:@?D[ 244@C5:?8 E@ E96 =2E6DE DFCG6J C6=62D65 3J E96 r@?76C6?46 q@2C5 %F6D52J]k^Am

kAm%96 5C@A 😕 @:= AC:46D 96=A65 AFD9 EC256CD E@ EC:> E96:C 36ED E92E k2 9C67lQ9EEADi^^2A?6HD]4@>^2CE:4=6^7656C2=\C6D6CG6\:?7=2E:@?\H2CD9\ECF>A\C2E6\9:<6\e2f6g3db2`gf3“hb2_66f3dg57eg_4aQmE96 u656C2= #6D6CG6k^2m 4@F=5 2??@F?46 2 9:<6 E@ :?E6C6DE C2E6D 7@==@H:?8 :ED =2E6DE >66E:?8 @? (65?6D52J] %96JVC6 7@C642DE:?8 2 ah]cT AC@323:=:EJ[ 5@H? 7C@> >@C6 E92? beT 2 52J 367@C6[ 244@C5:?8 E@ 52E2 7C@> r|t vC@FA]k^Am

kAmw:896C C2E6D 4@F=5 <66A 2 =:5 @? :?7=2E:@?[ 3FE E96J H@F=5 2=D@ D=@H E96 64@?@>J 3J >2<:?8 :E >@C6 6IA6?D:G6 7@C &]$] 9@FD69@=5D 2?5 3FD:?6DD6D E@ 3@CC@H] k2 9C67lQ9EEADi^^2A?6HD]4@>^2CE:4=6^:?E6C6DE\C2E6D\9@>6\D2=6D\>@CE8286\C2E6D\9@FD:?8\`fb6h73d65_f43d7a7fbh62ef6_c`a5gQm{@?8\E6C> >@CE8286 C2E6Dk^2m 92G6 2=C625J 9:E E96:C 9:896DE =6G6= 😕 ?62C=J 2 J62C[ 49:==:?8 E96 9@FD:?8 :?5FDECJ]k^Am

k9C ^m

kAmp! qFD:?6DD (C:E6CD r92? w@\9:>[ t=2:?6 zFCE6?3249 2?5 |2EE ~EE 4@?EC:3FE65]k^Am

Source link