Wall Street ends mostly lower as technology shares slide

Wall Street ended mostly lower on Monday, with technology shares under pressure as investors worried about heavy spending on artificial intelligence and awaited Apple’s quarterly results. Trading was also cautious ahead of Tuesday’s US midterm elections, according to ANP, in a report published by Nieuws.nl.

The Dow Jones Industrial Average rose 0.4% to 51,983.98, while the S&P 500 fell 0.5% to 7,541.40. The Nasdaq dropped more than 1% to 25,164.32.

Apple shares lost 1.5% before the company reported results after the closing bell. Investors were concerned that rising memory-chip costs could weigh on the company. Apple had overtaken Nvidia to become the world’s most valuable company at Friday’s close, the report said.

The tech-sector weakness echoes concerns about AI investment that have also weighed on Dutch chipmakers, including Besi, ASML and ASMI, in a recent Amsterdam market session.