US Stock: S&P, Nasdaq end lower on semiconductor selloff as AI spending concerns mount (opens original article in a new tab)

US stock markets closed lower as semiconductor stocks declined amid concerns over AI spending and potential Federal Reserve rate hikes, with the Nasdaq and S&P 500 hitting multi-day lows.

• Nasdaq and S&P 500 closed at over one-week lows due to semiconductor stock losses
• Semiconductor sector fell as investors questioned AI spending and potential Fed rate hikes
• Tech stocks like Nvidia and Alphabet declined while SpaceX shares rose after three days of losses