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After several consecutive days of gains, technology stocks took a step back, dragging the broader market down with them. The S&P 500 declined by 0.57%, and the Nasdaq Composite Index dropped by 1.15%. In contrast, the Dow Jones Industrial Average bucked the trend, rising 0.64% to hit a record high. SpaceX's stock price, after surging over 17% during intraday trading, ultimately closed up 4.8%, despite a late-session retreat. Chip stocks, as a whole, experienced a downturn, with the Philadelphia Semiconductor Index sliding 5.7%. Notably, Intel, AMD, Micron Technology, and SanDisk saw their shares fall by more than 8%, 7%, 6%, and 5%, respectively. ASML and Broadcom also suffered losses, with declines exceeding 4%. However, Western Digital stood out as an exception, rising 4.2% against the prevailing market trend.
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