Wall Street loses ground as tech stocks sink again
By STAN CHOE, AP Business Writer
NEW YORK (AP) — Wall Street is losing ground Wednesday under the weight of sinking technology stocks.
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The S&P 500 fell 1%, coming off its fourth drop in the last five days. The Dow Jones Industrial Average rose 39 points, or 0.1%, as of 12:55 p.m. Eastern time, and the Nasdaq composite fell 2.2%.
Most stocks within the S&P 500 are rising, but falling technology stocks are weighing on the index for a second straight day. 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.