Stocks and bonds were struggling on Wednesday, and the S&P 500 was only staying afloat because of artificial intelligence stocks.
The Dow dropped 167 points, or 0.4%. The S&P 500 was down 0.1%. The Nasdaq Composite was up 0.2%.
Nearly 400 S&P 500 stocks were falling, with AI darlings Super Micro Computer, Nvidia, and Advanced Micro Devices leading the index. The only major S&P 500 sector rising was tech with a 0.6% gain. Health care and communication services were flat.
The rest of the major sectors were lower, with Real estate, utilities, consumer staples, and consumer discretionary all down more than 1%.
The yield on the 10-year Treasury note was up to 4.31%. Bond yields spiked again after an auction of 5-year notes saw weak demand.