SP 500 flat as investors shift to defensive shares
The SP 500 traded near flat as investors rotated out of AI-related stocks into healthcare and consumer names. Rising interest rate concerns and hot inflation data drove caution across broader technology sectors.
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The S&P 500 closed near flat on Thursday afternoon, recovering from an earlier drop as investors rotated out of artificial intelligence stocks into healthcare and retail equities. The modest session followed hotter-than-expected producer price data that heightened concerns over rising borrowing costs and stubborn inflation across the United States. Wall Street is recalibrating equity valuations as debt-heavy technology names face pressure from elevated interest rates.
