The Nasdaq closes lower while the Dow ends higher as investors assess fresh economic data

Technology stocks were the biggest weights on the market, especially companies that have seen their values surge amid the frenzy over artificial intelligence technology.

US stocks closed lower as a global chip sell-off hit tech shares. The S&P 500 fell 1.3%, Nasdaq dropped 2%, while the Dow finished nearly flat.

Tech stocks pulled down the Nasdaq and S&P 500 due to valuation worries and concerns over AI spending, falling crude prices bolstered airlines and travel sectors. The Dow Jones…