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Stock market today: Nasdaq, S&P 500 fall as global chip sell-off spurs AI doubts
US stocks recovered from their lows on Tuesday morning, as a sell-off in memory chipmakers continued on Wall Street, spurring doubts about the AI trade.
The tech-exposed Nasdaq Composite (^IXIC) sank around 1.3% at last check, bouncing back from a nearly 3% plunge. Meanwhile, the S&P 500 (^GSPC) lost 0.8%, while the Dow Jones Industrial Average (^DJI), which includes fewer tech names, recovered to retop the flat line.
The Nasdaq took another hammering on Tuesday after Monday saw Big Tech players take a hit as SpaceX (SPCX) notched its third day of losses in a row. Shares in Elon Musk's space company seesawed on Tuesday, briefly wiping out all of its post-IPO gains.
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