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AI stocks fall after Samsung Electronics’ forecast fails to impress

AI stocks fall after Samsung Electronics’ forecast fails to impress

By STAN CHOE, AP Business Writer

NEW YORK (AP) — The roller-coaster ride for AI stocks is snapping lower again Tuesday and weighing on Wall Street.

The S&P 500 fell 0.3% even though the majority of stocks within the index rose. The drops for stocks in the artificial-intelligence industry dragged the Nasdaq down 0.6%, as of 2:14 p.m. Eastern time, while the Dow Jones Industrial Average was down 153 points, or 0.3%.

The weakness began in Asia, where Samsung Electronics tumbled 6.9% in Seoul. The tech giant gave a preliminary look at its performance for the second quarter, and the numbers were strong. Samsung Electronics said it expects to say its operating profit surged roughly 1,800% from a year earlier.

Analysts called the…

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