US Stocks: Nasdaq, S&P end lower as tech megacap declines outweigh upbeat chip outlook (opens original article in a new tab)

US stocks saw mixed results with Nasdaq and S&P declining due to concerns over Big Tech's AI spending, while the Dow rose. Micron's strong earnings were overshadowed by worries about debt-backed spending and potential Fed rate hikes.

• Nasdaq and S&P closed lower due to Big Tech's AI spending concerns
• Dow edged higher despite inflation and GDP growth data
• Micron's strong earnings were offset by fears of hyperscaler debt-backed spending