The Dow and S&P 500 slipped on Tuesday as oil prices held near $100 a barrel while gains in Micron Technology and other AI-related stocks lifted the Nasdaq to a record close, Reuters reported. 24.

89. Chip stocks extended their recent gains while shares of consumer-focused software companies declined as investors assessed the strong response to Meta Platforms’ new AI assistant.

The assistant, called Muse, launched earlier this month can send emails and carry out transactions on a user’s behalf. Its early success lifted AI-related chip stocks in recent sessions, but it also sparked concerns that the technology could disrupt retailers, online brokerages and other consumer businesses.

“There are a lot of tech stocks that are down today on Muse-related fears of one sort or another,” Jed Ellerbroek, portfolio manager at Argent Capital Management, told Reuters. “People fear that Muse will be used to manage your insurance relationships, book your travel and search for stuff to buy.”

5%. 94% after US President Donald Trump warned in a speech to the UN General Assembly that he could "annihilate the Islamic Republic" if no deal is reached to end the Middle East conflict.

“What people are looking for is at least the start of a conversation that maybe you can come up with some sort of global framework as opposed to fighting each other and having this race and so,” said Joe Saluzzi, head of equity market structure research at Themis Trading. JPMorgan Chase and Wells Fargo both lost ground.

Meanwhile, Boston Federal Reserve President Susan Collins said she supported last week’s interest-rate increase because of inflation risks. New York Fed President John Williams said the Fed’s framework for managing short-term rates had effectively supported financial markets.

Traders saw a 53% probability that the central bank would raise interest rates by at least 25 basis points in October, according to CME Group’s FedWatch Tool.