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Nasdaq Turns Lower as AI Rally Loses Steam
The AI stock rally that buoyed the market in early Monday trading lost some steam.
The S&P 500 was down 0.4% after opening higher despite negative breadth. The Dow was down 226 points, or 0.4%. The Nasdaq Composite was down 0.3%.
AI stocks rallied following an $11 billion deal from IBM to buy data-infrastructure firm Confluent, but such stocks were off their highs in late-morning trading.
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