The Dow Jones Industrial Average slipped 44.51 points to 51,876.11, while the S&P 500 fell 3.47 points to 7,354.02 and the Nasdaq lost 60.99 points, settling at 25,297.62. All three benchmarks slipped about a tenth of a percent, signaling that relief from lower fuel prices failed to lift sentiment.

Two-year Treasury yields dipped 0.033 percentage point to 4.087%, and the 10-year slipped 0.019 point to 4.372%. The PHLX SOX semiconductor index tumbled 737.3 points, a 5.3% plunge to 13,203.57, marking its steepest weekly drop since April 2025. Micron’s upbeat production outlook could not offset the sell‑off, while ON Semiconductor plunged 24% after agreeing to a $7 billion stock purchase of Synaptics.

Hedge‑fund manager Lorenzo Di Mattia warned that the AI rally may trigger false alarms before a final correction, noting heightened risk for firms whose debt hinges on AI expectations. He expects the market to swing within a broad range, keeping investors wary of over‑leveraged software and private‑credit players tied to the hype.

The mixed signals left investors balancing cheaper energy against lingering doubts about AI‑driven growth. With semiconductor stocks under pressure and Treasury yields easing, the near‑term market narrative centers on whether AI earnings can sustain current valuations. For now, the indices remain modestly lower, reflecting caution across sectors.