Wall Street Unable To Hold Midday Gains

The major U.S. averages were higher for much of Wednesday’s trade but a late slump saw them finish under water.

The Dow dipped 13.96 points or 0.03 percent to finish at 52,305.24, coming off a record closing high. The NASDAQ sank 173.69 points or 0.66 percent to close at 26.040.03 and the S&) 500 fell 16.13 points or 0.22 percent to end at 7,483.23.

The weakness that emerged on Wall Street was the result of ongoing concerns that the AI companies and chipmakers may be overbought – which had the biggest effect on the tech-heavy NASDAQ.