FX.co ★ US Stocks Close Mixed

US equity markets ended Thursday’s session mixed, as heightened volatility in technology shares dominated pre-holiday trading, even as worries about further rate hikes eased. The S&P 500 finished little changed, while the Nasdaq 100 lost 0.8%. Chipmakers retreated for a second straight day, amid growing doubts over whether AI-driven optimism has pushed valuations too far. Adding to the focus on the sector, reports emerged that OpenAI is in talks to sell a 5% stake to the US government, and Meta (-4.9%) indicated it may seek to monetize its surplus computing capacity. Micron Technology fell 7%, Applied Materials declined 7.4%, and Advanced Micro Devices dropped 4.3%. SanDisk slumped 14%, and Marvell retreated 9.8%. Tesla slid 7.5% despite reporting robust vehicle deliveries. In contrast, the Dow Jones Industrial Average rose 595 points to a fresh record high, supported by gains in more traditional, non-tech sectors.