Dow Rises 331 Points, Nasdaq Down 0.18% as Chip Stocks Tumble on Tuesday

On Tuesday morning, U.S. stocks opened mixed, with the Dow Jones Industrial Average rising 331 points, or 0.63%, to 52,546 by 9:35 a.m. ET, while the Nasdaq fell 0.18% to 24,932 and the S&P 500 hovered near flat, down 0.24% to 7,395.55 at market open. Semiconductor shares extended losses amid investor concerns about sustained returns on artificial intelligence infrastructure spending and competition from Chinese chipmakers. Micron Technology dropped 8.4%, Advanced Micro Devices fell 7.7%, and Nvidia declined 1.1%.

Strong corporate earnings supported gains outside the technology sector. Coca-Cola jumped 5.8% after reporting a 7% revenue increase, while Sherwin-Williams rose 7% and Illinois Tool Works gained 3.7% following better-than-expected quarterly results.