Wednesday’s session saw a divergent performance across major indices, reflecting a mixed market tone amid renewed caution in technology and semiconductor stocks. The Dow Jones Industrial Average rose 182.06 points, or 0.35%, to close at 51,848.90, buoyed by strength in its industrial and financial components, while the S&P 500 and Nasdaq Composite both retreated. The S&P 500 slipped 7.24 points (-0.10%) to 7,358.22, and the Nasdaq fell 110.40 points (-0.43%) to 25,476.63, erasing earlier gains as investor sentiment soured ahead of Micron’s after-hours earnings report. The underperformance in tech contributed to a broader retreat in growth and AI-related names, with shares of Cerebras, Marvell, and other semiconductor firms among the day’s notable decliners.

The session was marked by a cooling of the so-called “AI trade,” as concerns over valuations and near-term demand resurfaced, triggering a resumption of the chip sector sell-off. This dynamic weighed heavily on the Nasdaq, which gave up intraday advances despite a brief recovery attempt. Oil prices added to the risk-off undertone, sliding to their lowest levels since before the start of the war, now trading at prewar benchmarks, while Treasury yields also pulled back sharply. Meanwhile, Cathie Wood’s ARK Invest was noted for increasing positions in Palantir, Cerebras, and several of the “Magnificent 7” tech giants, signaling selective confidence in high-growth equ