Stocks Pare Tech-Led Decline as Rotation Accelerates – US Market Wrap

Wall Street forced a rotation out of technology behemoths, stifling a one-day rally, as traders piled into a broader category of companies with stronger growth prospects.
Despite the decline in the S&P 500’s most prominent group, the index recovered most of its previous loss as about 370 of its companies climbed. Chipmakers, which had propelled the rebound from wartime lows, swung abruptly. The Nasdaq 100 declined 1.1%. Oil prices fell after Trump stated that the US must retaliate to Iran’s attack on an American helicopter, lowering prospects for a rapid resolution to their conflict.
According to persons familiar with the situation, institutional investors have demanded multiple times the available shares in SpaceX’s initial public offering as the Elon Musk-led rocket, satellite, and AI corporation nears its debut.
Anthropic has widely released a version of Mythos that will be prevented from performing cybersecurity duties, months after warning that the powerful AI model could detect and exploit weaknesses in vital software.