Nasdaq falls amid tech stock weakness
The U.S. stock market experienced a decline, with the Nasdaq index falling under pressure from losses in major technology company shares, amid concerns over rising cloud computing expenses and expectations of interest rate hikes, despite support from other sectors. This was influenced by a surge in AI-related stocks of Microtech and Qualcomm, while shares of Sandisk and Western Digital rose. Conversely, shares of Apple, Nvidia, and Microsoft declined. The Dow Jones Industrial Average rose to close at 52,275.98 points, supported by the industrials sector, as markets continued to digest U.S. inflation and economic growth data.
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