The Dow Jones Industrial Average pulled back from record levels on Tuesday as investors once again appeared to rotate out of names tied to artificial intelligence and as oil prices advanced.
The 30-stock index backed off 131.35 points to 52,924.56, after surpassing 53,000 Tuesday for the first time ever.
The S&P 500 fell 33.68 points to 7,503.75.
The tech-heavy NASDAQ cratered 302.47 points, or 1.2%, to 25,818.69.
Shares of Micron were last seen 7% lower, with KLA, Marvell Technology, Broadcom and AMD also posting declines.
Investors moved into key names in other areas of the market such as healthcare, financials and Big Tech. Shares of Eli Lilly gained 2%, while JPMorgan Chase and Microsoft also saw gains.
Walmart shares were higher as well on the heels of the company announcing price cuts on products such as ground beef and Coca-Cola.
Meanwhile, SpaceX shed 6% amid its Tuesday entrance into the NASDAQ.
Prices for the 10-year Treasury swooned, raising yields to 4.55% from Monday’s 4.47%. Treasury prices and yields move in opposite directions.
Oil prices added $3.46 to $72.01 U.S. a barrel.
Gold prices changed course and moved downward $43.20 to $4,124.30 U.S. an ounce.
