Nasdaq Hits Record as Chip Stocks Rally

U.S. technology stocks extended their rally Tuesday, pushing the Nasdaq Composite to a record close of 27,244.28 and the Nasdaq 100 to its first record since June, as strong demand for artificial-intelligence products lifted Micron, Nvidia and other semiconductor shares. The S&P 500 was essentially flat while the Dow fell about 0.4%, pressured by elevated Treasury yields, banks and other blue-chip shares, and President Donald Trump’s threat against Iran at the United Nations. Oil prices declined for a fifth straight session as Gulf flows improved and investors focused on reported diplomatic contacts between Washington and Tehran, while hopes for a potential ceasefire supported risk appetite. Treasury yields remained high, and inflation concerns and the possibility of further interest-rate increases limited broader market gains. By Wednesday, the technology rally had paused, with the Nasdaq 100 and major chip stocks retreating, while energy shares rose amid opposition to a proposed halt in diesel exports. The CNN Fear & Greed index remained in the “Fear” zone, reflecting lingering macroeconomic, geopolitical and valuation risks.