The Dow Jones Industrial Average crossed the 50,000 mark. Chipmakers like Nvidia surged as tech giants Amazon and Alphabet announced significant investments in AI infrastructure. This spending is expected to boost AI data center development. Software companies also saw gains, recovering from recent dips. The market showed a shift with investors diversifying away from tech.
US stocks: US market closes down sharply after Fed holds rates unchanged
Wall Street experienced a sharp decline as the Federal Reserve maintained interest rates. AI-related chip stocks also saw further losses ahead of key earnings reports.