US equity close: Big bifurcation as chipmakers and power generation crushed ...Middle East

S&P 500 -1.45%Nasdaq Comp -3.1%Russell 2000 -1.2%DJIA +0.6%Toronto TSX -0.7%

The headlines here don't begin to tell the story as Nvidia's 17% decline was the largest market cap wipeout in history, doubling the previous record.

Despite that, far more stocks were up on the day than down as the market found many winners in a future where AI is cheaper and more-widely available. It's just that the Mag7 is such a big part of the index.

This article was written by Adam Button at www.forexlive.com.

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