Summary · why it matters
U.S. stocks settled mixed on Wednesday, with the S&P 500 and Nasdaq 100 falling to one-and-a-half-week lows as losses in chipmakers weighed on the broader market ahead of Micron Technology's earnings results. The S&P 500 Index closed down 0.10 percent, the Dow Jones Industrial Average rose 0.35 percent, and the Nasdaq 100 Index fell 0.43 percent. Chipmakers and AI infrastructure stocks retreated, with Seagate Technology Holdings and Western Digital down more than 4 percent, while cryptocurrency-exposed stocks sold off as Bitcoin tumbled to a 20-month low, dragging Strategy down more than 9 percent. Homebuilders and building suppliers rallied after KB Home reported strong earnings and the 10-year T-note yield fell to a six-week low of 4.40 percent, with KB Home surging more than 16 percent. Airline and cruise stocks also gained as WTI crude oil plunged more than 3 percent to a three-and-a-half-month low, reducing fuel costs.