[Breaking] Nasdaq Plunges 2.60% on Renewed AI Investment Skepticism; Dow Edges Higher
On the 23rd (Korean time), the three major U.S. stock indices diverged at the New York Stock Exchange. The Dow Jones Industrial Average closed at 52,867.98, up 11.89 points (0.02%) from the previous trading day. In contrast, the large-cap-focused S&P 500 index fell 93.74 points (1.21%) to 7,663.43.
![[Breaking] Nasdaq Plunges 2.60% on Renewed AI Investment Skepticism; Dow Edges Higher](/_next/image?url=https%3A%2F%2Fmedia.cbcglobe.com%2Ftenants%2Fcbc00000-0000-4000-8000-000000000001%2Fmedia%2Fcbc%2F2026%2F10%2F618460%2F5d1d502817332632%2Foriginal.webp&w=1920&q=75)
On the 23rd (Korean time), the three major U.S. stock indices diverged at the New York Stock Exchange.
The Dow Jones Industrial Average closed at 52,867.98, up 11.89 points (0.02%) from the previous trading day. In contrast, the large-cap-focused S&P 500 index fell 93.74 points (1.21%) to 7,663.43. The tech-heavy Nasdaq Composite plunged 694.00 points (2.60%) to close at 26,008.86.
Among the three major indices, only the Dow posted a modest gain, while the S&P 500 and the Nasdaq ended lower. Notably, the Nasdaq's decline was larger than that of the S&P 500, highlighting a pronounced sell-off centered on technology stocks.
In the market, skeptical views on AI (artificial intelligence) investment resurfaced. Coupled with a broad decline in tech stock prices, market wariness about AI-related investment emerged as a key variable.
The international oil market moved in a different direction. Military tensions in the Middle East acted as a factor pushing oil prices higher. As the pro-Iranian Yemeni Houthi rebels intensified attacks on Saudi Arabia, Brent crude prices rose above $113 per barrel. Brent crude trading above $113 marks the highest level since last May.
On the day, despite the Dow's limited gains, downward pressure centered on technology stocks was evident in the New York stock market. With uncertainty over AI investment and Middle East-driven oil price rises coming to the fore simultaneously, it was a day when the stock market and the oil market moved in opposite directions.
[This article is intended to provide information for investment reference and does not recommend the purchase or sale of any specific stock. Conditions may vary depending on market circumstances. Investment decisions and any resulting responsibility lie with the investor. AI assisted in part with this article.]
CBC Globe publishes verified stories with editorial review, source checks, and tenant-specific publication standards.
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