U.S. stocks showed mixed performance as oil price declines were offset by concerns over debt funding the artificial-intelligence boom. Ahead of Nvidia’s earnings, the Dow Jones Industrial Average rose to 53417.16, while the S&P 500 and Nasdaq Composite fell. Oil dropped after Treasury Sec. Scott Bessent announced sanctions against Iran-linked entities.

Market volatility persisted amid rising Treasury yields. Federal Reserve Chairman Kevin Warsh is expected to address these issues at a conference in Jackson Hole, Wyo. J.D. Joyce noted that high rates could hurt consumers and the broader economy. Meanwhile, gold futures gained, and the U.S. dollar strengthened following recent trade war developments.

Semiconductor stocks remain volatile, with the PHLX SOX Index down more than 20% from June highs but up roughly 60% year-to-date. Nvidia shares fell 2.9%, though analysts expect its upcoming earnings report to restore confidence in the AI sector. Investors worry tech companies are accumulating excessive debt for AI projects as borrowing costs rise.

In other news, Alibaba fell after announcing a large AI budget, while Yangtze Memory Technologies filed for an IPO to raise $4.9 billion. In media, California Attorney General Rob Bonta canceled a meeting with Paramount Chief Executive David Ellison regarding a lawsuit blocking the $81 billion buyout of Warner Bros. Discovery.