US equity markets closed lower on Wednesday, weighed down by renewed selling in artificial intelligence and semiconductor stocks.
The Nasdaq Composite fell 1.3% as investors rotated out of high-growth tech names, while the Dow Jones Industrial Average managed to post modest gains, highlighting a divergence in market sentiment.
In a notable contrast to the broader tech selloff, airline stocks bucked the trend.
The sector benefited from a continued decline in oil prices, which reduced input cost pressures for carriers.
This dynamic allowed aviation names to outperform as traders sought defensive positioning amid the tech-led weakness.
Micron Technology also faced headwinds, with shares retreating ahead of its upcoming earnings report.