Wall Street is mixed as more drops for AI stocks offset some strong profit reports

NEW YORK (AP) — More swings for stocks in the artificial-intelligence industry are weighing on Wall Street Tuesday, but the overall U.S. market is holding relatively steady following strong profit reports from several big companies.The S&P 500 slipped 0.1% to give back some of its gain from Monday. The losses for AI stocks sent the Nasdaq composite down 0.6%, while the Dow Jones Industrial Average was up 0.2%, or 120 points, as of 9:35 a.m. Eastern time.AI stocks have been at the center of the market’s uneasiness recently, as euphoria around the technology’s boom gives way to worries that high interest rates in the bond market will slow the borrowing that’s allowed companies to buy so many AI chips. Last week was the U.S. stock market’s worst since June.On Tuesday, the industry’s struggles began in Asia, where a South Korean AI company, Elice, confronted a rough welcome to the stock market. Its stock dropped 32% in its first day of trading in Seoul.On Wall Street, CoreWeave fell 4.3%.