The US stock market slipped under the weight of sinking technology stocks Wednesday.
- The S&P 500 dipped 35.09, or 0.5% points to 6,882.72, its fifth drop in the last six days.
- The Dow Jones Industrial Average rose 260.31 points, or 0.5%, to 49,501.30.
- The Nasdaq composite fell 350.61 points, or 1.5%, to 22,904.58.
Most stocks within the S&P 500 rose, but the index sank as Advanced Micro Devices and other influential tech stocks fell, the
AP reports. Nvidia fell 3.4%. Gold and silver prices pared gains from earlier in the day, while Treasury yields held relatively steady.
Advanced Micro Devices dropped 17.3% even though the chip company reported a stronger profit for the latest quarter than analysts expected. It also gave a forecast for revenue for the start of 2026 that topped analysts' expectations, but that may not have been enough for investors after its stock had doubled over the last 12 months. Uber Technologies also dragged on the market after falling 5.1%. The ride-hailing company reported results for the latest quarter that fell short of analysts' expectations. It also gave a forecast for profit in the current quarter that was below analysts' expectations, while naming a new chief financial officer.
Some tech stocks nevertheless climbed, including a 13.8% rise for Super Micro Computer. The company, which sells AI servers and other equipment, delivered a stronger profit for the latest quarter than analysts expected. Eli Lilly rallied 10.3% after topping analysts' expectations for profit in the latest quarter. It's been riding big growth created by its Mounjaro and Zepbound products for diabetes and weight loss. Match Group climbed 5.9% after reporting better results than analysts expected and increasing its dividend. The company credited early signs of success from efforts to improve outcomes for users. It said a new facial verification feature for its Tinder service, for example, led to a sharp drop in interactions with "bad actors" where it's been rolled out.
Walmart edged up by 0.2%, a day after its total market value topped $1 trillion for the first time. The retailer has broken into a small club dominated by Big Tech companies like Nvidia and Apple, which are each worth more than $4 trillion. Gold and silver prices rose after paring bigger, early gains. Gold added 0.3% to settle at $4,950.80 per ounce after earlier climbing back above the $5,000 mark. It's been swinging sharply after roughly doubling in price over 12 months. It neared $5,600 last week and then fell below $4,500 on Monday. Silver's price, which has been on an even wilder ride, rose 1.3%.
,
uBlock 
,
and
Ghostery 
)
