US stocks: S&P 500 muted as AI concerns hit chip stocks; bank gains lift Dow

US stocks delivered a mixed performance, with the S&P 500 remaining muted as concerns tied to artificial intelligence weighed on chip stocks. Gains among banks provided support for the Dow.

Chip stocks pressure the S&P 500

The technology-related pressure centered on chip stocks, which came under strain amid AI concerns. That weakness limited movement in the broader S&P 500.

Bank gains lift the Dow

While chip stocks faced pressure, bank shares advanced and helped lift the Dow. The contrasting moves left the major US indexes showing different reactions across market sectors.

The session highlighted the opposing influence of chip-stock weakness and bank gains on US equities, with the S&P 500 muted and the Dow moving higher.