US: Stock Market Mixed as Chipmakers Slide.

US stocks closed mixed on Monday as losses in chipmakers offset gains across broader sectors. The S&P 500 fell 0.3% and the Nasdaq lost 1%, while the Dow added 140 points. AI infrastructure stocks led the declines amid persistent uncertainty over returns in the sector, although support from upcoming LLM developer IPOs helped offset concerns that capital spending on chips may have been excessive. Broadcom fell 2.6%, Micron lost 5.8%, AMD shed 3.5%, Intel retreated 3.1% and Sandisk tumbled 6.4%. Nvidia dropped 2.9% ahead of its earnings report on Wednesday, the next major catalyst for the AI trade. Meanwhile, energy prices eased but remained elevated as the US pledged to isolate Iran economically, adding to concerns over inflation as high energy costs magnified the impact of elevated deficit spending and Treasury bond-buyback efforts. Still, credit services stocks recovered from last week’s pullback, with Visa up 3.1% and Mastercard adding 3.3%.