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Market worries that a Democratic‑led U.S. Congress could tighten artificial‑intelligence regulation sparked a sell‑off in chip stocks yesterday. The decline in semiconductor shares helped lift the broader market, but a recent U.S. employment report has kept investors wary of further interest‑rate hikes. The Dow Jones Industrial Average opened 486.37 points lower, a 0.94% decline, to 51,036.69 points. The S&P 500 gained 19.44 points, or 0.26%, to 7,373.17. The Nasdaq Composite rose 299.54 points, a 1.23% increase, to 24,614.53. The dip in chip shares was driven by concerns that new AI‑related legislation could impose stricter oversight on the semiconductor industry. Despite the sector’s rebound, the employment data released earlier in the day has reinforced expectations that the Federal Reserve may continue to raise rates to curb inflation. Article source: United Daily News | Image credit: United Daily News
Market worries that a Democratic‑led U.S. Congress could tighten artificial‑intelligence regulation sparked a sell‑off in chip stocks yesterday. The decline in semiconductor shares helped lift the broader market, but a recent U.S. employment report has kept investors wary of further interest‑rate hikes. The Dow Jones Industrial Average opened 486.37 points lower, a 0.94% decline, to 51,036.69 points. The S&P 500 gained 19.44 points, or 0.26%, to 7,373.17. The Nasdaq Composite rose 299.54 points, a 1.23% increase, to 24,614.53. The dip in chip shares was driven by concerns that new AI‑related legislation could impose stricter oversight on the semiconductor industry. Despite the sector’s rebound, the employment data released earlier in the day has reinforced expectations that the Federal Reserve may continue to raise rates to curb inflation.
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