The Nasdaq falls 0.44% as memory and AI-infrastructure stocks sell off on China's CXMT news, while the Dow edges up

US stocks split on Monday 12 October. The Dow Jones Industrial Average “rose 0.38% to 51,851”, the S&P 500 “slipped 0.06% to 7,807” and the Nasdaq Composite “fell 0.44% to 27,246 on technology sector weakness”, the Motley Fool reported. Investrade's market review gives the same percentage moves, and Yahoo Finance's live coverage reported the Nasdaq down 0.4% and the Dow up nearly 0.4%.

The weakness was in memory chips and AI-infrastructure suppliers. Sandisk “tumbled more than 6% on memory competition concerns”, the Motley Fool reported, and Lumentum fell almost 10% “as investors retreated from artificial intelligence (AI) industry stocks”. Yahoo Finance reported that Micron and SK hynix shares fell more than 3% after China's ChangXin Memory Technologies (CXMT) “announced significant progress in a new memory-cell design aimed at increasing storage density.” Investrade said the Philadelphia semiconductor index fell as much as 2.7% early in the day.

The Switchboard has covered the Korean selloff tied to the same CXMT news; this is the New York session. Banks and the bond market were closed for Columbus Day, and investors were waiting for earnings season to start.

• Reported The Dow rose 0.38% to 51,851, the S&P 500 slipped 0.06% to 7,807 and the Nasdaq fell 0.44% to 27,246, the Motley Fool reported; Investrade gives the same percentage moves. Motley Fool via Yahoo Finance
• Reported Sandisk fell more than 6% and Lumentum almost 10%, the Motley Fool reported. Motley Fool via Yahoo Finance
• Reported Micron and SK hynix fell more than 3% after CXMT's memory-cell news, Yahoo Finance reported. Yahoo Finance
• Reported The Philadelphia semiconductor index fell as much as 2.7% early in the session, Investrade reported. Investrade