US markets open mixed as Nasdaq falls on tech selloff
Business
US markets opened on a mixed note on Tuesday: Nasdaq dropped thanks to a global tech selloff, the S&P 500 stayed mostly flat, and the Dow managed a small climb, boosted by strong results from nontech companies.
Even though oil prices dipped (which usually helps), worries about how much money is pouring into AI kept investors on edge.
Asian chipmakers hit amid AI doubts
Big Asian chipmakers like SK Hynix and Samsung Electronics took a hit, making people question if investing so heavily in AI infrastructure is really sustainable, especially with cheaper Chinese options entering the scene.
Now, everyone is waiting for updates from the US Federal Reserve's policy meeting to see what's next for inflation, interest rates, and where the economy might be headed.