AI and Chip Losses Pull S&P 500 and Nasdaq Lower as Most Stocks Rise
Photo: TokenPost
U.S. stock indexes diverged Thursday, Oct. 22, as losses in large technology and chip stocks pulled the S&P 500 and Nasdaq lower while more than 300 S&P 500 constituents advanced. The S&P 500 fell 1.2% and the Nasdaq dropped 2.6%. The Dow Jones Industrial Average and Russell 2000 edged higher. The 10 largest companies in the S&P 500 represent about 40% of the index’s total value, allowing losses among a few large companies to outweigh gains across a broader group. The concentration echoes concerns around AI-heavy portfolios . Chip stocks fell sharply.
Source: TokenPost
