The Dow Jones Industrial Average climbed 260.31 points, or 0.53%, closing at 49,501.30 on Wednesday. This rise came as the S&P 500 and Nasdaq slipped, with investors shying away from expensive tech stocks and favoring safer sectors. The S&P 500 dropped 35.09 points, or 0.51%, to 6,882.72, while the Nasdaq slid 350.61 points, or 1.51%, to 22,904.58 after Advanced Micro Devices tumbled 17% following a disappointing revenue forecast. “The market is suddenly skeptical and concerned,” said Jed Ellerbroek, portfolio manager at Argent Capital. Meanwhile, Josh Chastant of GuideStone Funds cautioned that “legacy software” might become “a ripe target for AI.”
