Sinking AI stocks pull Wall Street further from its record
- U.S. stocks fell on Tuesday, with the S&P 500, Dow and Nasdaq all lower after the market’s recent record high.
- AI-related shares led the decline, including Micron Technology, Nvidia and Broadcom.
- Higher bond yields continued to pressure valuation-sensitive stocks, with the 10-year Treasury yield staying well above its pre-war level.
- Rising oil prices and war-related uncertainty have helped keep yields elevated, while new-home construction data also came in weaker than expected.
Wall Street moved lower on Tuesday as another drop in artificial-intelligence stocks dragged major indexes further from their recent records. The S&P 500 fell 0.7%, the Dow Jones Industrial Average lost 116 points, and the Nasdaq composite dropped 1.3%.
Micron Technology fell 7%, while Nvidia declined 2.3% and Broadcom slipped 3.2%. The report said investors have become more cautious about AI-linked stocks after a strong run, with some market participants concerned that prices may have risen too far and that demand tied to data-center building could slow if AI growth falls short of expectations.
High bond yields added to the pressure. The 10-year Treasury yield remained near 4.70%, and the 30-year yield stayed close to its highest level since 2007. The article said higher yields make investors less willing to pay elevated prices for stocks, especially those viewed as expensive. For markets, the tone is negative for U.S. stocks, particularly AI and other high-valuation technology shares.
The piece also noted that oil prices remained elevated and that a housing report showed fewer new homes started than economists expected. Home Depot dipped slightly despite better-than-expected quarterly results, and the article said high yields may also slow borrowing for data-center spending by major technology companies.
AI相关股票下跌使华尔街进一步远离纪录高位
周二，华尔街下跌，人工智能相关股票的再度走弱让主要股指进一步远离近期纪录高位。标普500指数跌0.7%，道琼斯工业平均指数下跌116点，纳斯达克综合指数下跌1.3%。
美光科技下跌7%，英伟达下跌2.3%，博通下跌3.2%。报道指出，投资者对AI相关股票近期涨幅变得更加谨慎，部分市场人士担心其价格可能涨得过高，而数据中心建设带来的需求如果不及预期，相关增长也可能放缓。
债券收益率居高不下也加大了压力。10年期美债收益率仍接近4.70%，30年期收益率则维持在2007年以来的高位附近。报道称，较高收益率会让投资者更不愿为股票支付高价，尤其是那些被视为估值偏高的公司。对市场而言，这对美股、特别是AI和高估值科技股，构成偏空影响。
报道还提到，油价维持高位，住房数据则显示上月新屋开工少于经济学家预期。家得宝股价小幅下跌，尽管其最新季度利润和收入好于预期；文章还指出，高收益率也可能放缓大型科技公司为数据中心融资的借款活动。