Investors continued to sell off AI-related stocks: the Nasdaq-100 fell 1.8%

The Nasdaq Composite, a technology sector index, lost nearly 1.2% at the close of trading on July 7, while the Nasdaq-100 plummeted 1.8%.

Investors were once again shifting capital from stocks of companies related to artificial intelligence into the healthcare sector, the financial sector, and big tech, according to CNBC. Micron shares fell 4.7%, while Marvell Technology, Broadcom, and AMD also saw their prices decline. The VanEck Semiconductor ETF, which tracks semiconductor companies, dropped by more than 3%.

The Dow Jones Industrial Average pulled back from its high, falling 0.3% after closing at a record high the previous day. The S&P 500 broad-market index fell 0.5%.

Brent crude oil futures rose by more than 5% to $75.7 per barrel. Contracts for North American WTI crude traded as high as $71.8 per barrel. Prices were influenced by rising tensions in the Strait of Hormuz.

This news story is being updated.

This article was AI-translated and verified by a human editor