Business · Markets · 5 hrs ago
US stocks mixed as AI spending concerns hit chipmakers
US stocks closed mixed at the start of election week, as investors held back before the US midterm elections and Apple's quarterly results.
The Dow rose 0.4%, while the S&P 500 fell 0.5% and the Nasdaq dropped 1.1%.
Investors are questioning how much companies are spending on AI and whether those investments will deliver enough value.
Chipmakers were among the hardest hit: Marvell shares fell 13%, Intel lost 8.8%, and Lumentum dropped 18.6% after Marvell announced a $115 billion deal to buy it.
Oracle shares also fell nearly 9% after it said it planned to raise $20 billion by selling shares and bonds.
Oil prices fell 8% after Iran signaled readiness for peace talks, though the conflict has kept energy prices high and added to inflation.
Investors are watching the midterms, with polls pointing to a possible Democratic win in the House while the Senate outcome remains less clear, and Apple's results are also in focus.
US stocks closed mixed on Monday as concerns about artificial intelligence spending weighed on technology shares.
The Dow Jones Industrial Average rose 0.4% to 51,983 points, while the S&P 500 fell 0.5% and the Nasdaq dropped 1.1%.
Chipmakers came under pressure, with Marvell Technology down 13%, Lumentum down 18.6% and Intel down 8.8%.
Investors also held back ahead of Apple’s quarterly results and the US midterm elections.
Oil prices fell 8% after Iran signalled willingness to hold peace talks.
- Who
- US stock investors and publicly traded companies, including chipmakers.
- What
- US stocks closed mixed as concerns about AI spending weighed on technology shares, especially chipmakers.
- When
- Monday, November 2, 2026.
- Where
- US stock markets.
- Why
- Investors were concerned about the pace and value of AI spending and were cautious ahead of Apple’s quarterly results and the US midterm elections.
This story does not have two clearly opposing sides.
US stocks closed mixed as investors weighed concerns about AI spending and awaited Apple’s quarterly results and the midterm elections.
Oil prices fell 8% after Iran signalled willingness to hold peace talks.
- Dow Jones
- Rose 0.4% to 51,983 points
- S&P 500
- Fell 0.5% to 7,541 points
- Nasdaq
- Fell 1.1% to 25,164 points
- Marvell Technology
- Shares fell 13% after it announced a $115 billion acquisition of Lumentum
- Lumentum
- Shares fell 18.6%
- Intel
- Shares fell 8.8%
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What people are saying
Unternehmen müssen erkennen, dass es eine Grenze dafür gibt, wie viel sie ausgeben und was das für die Steigerung des Unternehmenswertes bedeutet. Irgendwann gibt es keinen zusätzlichen Mehrwert mehr, sondern nur noch Kosten.