Business · Singapore Bureau
Nasdaq hits record high as artificial intelligence stocks surge
The Nasdaq composite index reached an all-time closing high, driven by strong gains in artificial intelligence-related equities. This contrasted with weakness in the broader market, where the Dow Jones Industrial Average declined.
LSN Singapore ·
Technology stocks powered ahead to lift the Nasdaq composite to a record close, buoyed by renewed investor enthusiasm for artificial intelligence companies. The broad-based rally in AI-related equities offset weakness elsewhere in the market.
The Dow Jones Industrial Average fell 184.94 points, or 0.36 per cent, to 51,863.89, reflecting selling pressure in traditional blue-chip stocks. The divergence underscored investor preference for growth-oriented technology names over established industrial and financial sectors.
The Nasdaq's performance reflects continued investor appetite for companies positioned at the forefront of artificial intelligence development and deployment. The index's advance to record levels suggests market participants remain confident in the long-term growth prospects of the sector, despite periodic volatility elsewhere in equities markets.
The mixed performance across major indices highlights the selective nature of current market momentum, with technology-focused investors maintaining conviction even as broader market sentiment showed signs of caution.