Wall Street ends lower as the Nasdaq falls 2.15% and volatility jumps

US stocks ended the session lower, with the Nasdaq Composite falling 2.15% and the S&P 500 down 1.09%. The Dow Jones Industrial Average held up better, slipping 0.34%.

Reports describe a market pulled in different directions: some highlight worries about artificial intelligence stocks weighing on the Nasdaq and the S&P 500, while others point to big technology earnings reviving the AI trade and to weaker oil prices helping the Dow. One strategist is reported to have lowered an S&P 500 target to 7,900 while keeping a 2027 earnings forecast.

By the numbers: the S&P 500 closed at 7,659.44 (-1.09% on the day), the Nasdaq Composite at 26,140.03 (-2.15%) and the Dow Jones Industrial Average at 52,002.41 (-0.34%). The Cboe Volatility Index, often called the VIX, rose 21.45% on the day to 19.99.

Over the year so far the S&P 500 is up 11.89%, the Nasdaq Composite is up 12.47% and the Dow is up 8.20%. One day's move says little about the longer trend, and headlines change quickly, so treat these figures as a snapshot.