AI Stocks Defy Market Slump

AI stocks hold steady as Wall Street drifts lower ahead of Federal Reserve meeting.

Artificial-intelligence stocks are holding steady as Wall Street slides ahead of the Federal Reserve's meeting, with the S&P 500 slipping by 0.2%. The Dow Jones Industrial Average was down 289 points, or 0.6%, and the Nasdaq composite was 0.3% lower. The main event for the market is expected to be the Fed's decision on interest rates, which could result in higher inflation and make borrowing more expensive. High inflation, along with concerns about the U.S. government’s massive debt level and other issues, have already sent bond market yields to levels unseen in years. The 10-year Treasury's yield rose to 5.00% from 4.97% on Monday, marking the first time since 2023 that it breached this level. However, traders are still betting on a slight chance that the Federal Federal Reserve could hold off on hiking interest rates.

Topics