All three major New York stock indexes closed lower on the 4th (local time). The semiconductor sector showed strength with the Philadelphia Semiconductor Index surging more than 3%, and storage-related stocks were hot enough that some names posted double-digit gains. Large-cap tech stocks were mixed, while Chinese company stocks actually moved higher.

The Dow Jones Industrial Average finished down 271.86 points (0.51%) at 53,414.25. The S&P 500 fell 29.11 points (0.38%) to 7,718.60, and the Nasdaq Composite slipped 77.07 points (0.29%) to 26,506.99. The Nasdaq 100, however, rose 61.84 points (0.21%) to close at 29,544.16, indicating that tech stocks were not uniformly weak.

Semiconductors were unquestionably the centerpiece of the session. The Philadelphia Semiconductor Index surged 383.13 points (3.38%) to 11,735.26. Among individual names, AMD rose 4.69%, Intel gained 4.51%, ASML Holding ADR advanced 4.17%, and Lam Research climbed 5.12%. Nvidia posted a modest 0.84% gain, but the fact that it did not decline underscored how investor sentiment tilted toward semiconductors.

Storage-related stocks delivered the most pronounced rally of the day. SanDisk soared 11.90%, and SK Hynix ADR jumped 8.14%. Micron Technology rose 6.10%, Western Digital gained 5.86%, and Seagate Technology climbed 6.34%. Analysts attributed the buying to expectations that AI server semiconductor demand is expanding into the storage segment.

Beyond semiconductors, Cerebras Systems rose 10.3% and Astera Labs gained 9.75%, spreading warmth across AI infrastructure names broadly. TSMC ADR also advanced 2.85%.

Large-cap tech stocks showed clear divergence. Tesla plunged 5.92%, leading the index decline, while Apple fell 2.51% and Microsoft dropped 2.04%. Alphabet Class A and Class C shares declined 1.11% and 1.05%, respectively, and Amazon slipped 0.15%. Meta, by contrast, rose 1.00%, and Broadcom edged up 0.21%, holding up relatively well.

The software sector was among the weakest areas of the market. Guidewire Software plunged 19.9%, UiPath fell 16.6%, Asana dropped 12.7%, Autodesk declined 8.3%, and Adobe slid 6.7%. Analysts suggested that rate-hike concerns weighed on growth-stock valuations. Palantir Technologies also fell 4.49%.

Chinese company stocks moved against the broader U.S. market weakness. The Nasdaq China Golden Dragon Index rose 0.89%, and a key Chinese tech stock index gained 1.49%. Among individual names, Yixian E-Commerce surged 12.15%, Lanz Medical jumped 11.22%, and Haichuan Securities climbed 9.27%. Baidu rose more than 4%, and Kingsoft Cloud and Suidi also gained over 4%.

Defensive, financial, and energy stocks were also under pressure. Eli Lilly fell 0.88%, Johnson & Johnson declined 1.15%, AbbVie dropped 1.44%, and Merck slipped 1.32%. JPMorgan Chase fell 0.94% and Bank of America edged down 0.06%. ExxonMobil Holdings declined 1.69% and Chevron dropped 1.29%, while Visa and Mastercard fell 0.97% and 1.11%, respectively.

Some industrial and technology names bucked the trend. Oracle rose 3.08%, Caterpillar gained 1.72%, and GE Aerospace advanced 1.09%. HSBC Holdings ADR also edged up 0.61%. Berkshire Hathaway Class A and Class B shares fell 0.48% and 0.41%, respectively, failing to escape the broader market weakness.

The VIX volatility index rose 0.21 points (1.47%) to 14.53. While risk appetite has not been severely dented, caution appears to have ticked up alongside the decline in major indexes.

International oil prices extended their gains as Middle East tensions spread to the Bab el-Mandeb Strait. On the New York Mercantile Exchange, October-delivery West Texas Intermediate (WTI) crude rose 0.2% to settle at $91.48 per barrel. WTI has now risen for five consecutive sessions since the 31st of last month. On the London ICE Futures Exchange, November-delivery Brent crude gained 0.8% to close at $96.28 per barrel.

In summary, the New York stock market closed mixed on the day, as declines in mega-cap names such as Apple, Microsoft, and Tesla pressured the broader indexes despite strong gains in semiconductor and storage stocks. Market participants appeared to be navigating a dual dynamic: tracking the expansion of the AI infrastructure investment cycle from semiconductors into storage, while contending with rate concerns that weighed on growth stocks broadly.