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03-15

$Intel(INTC)$ 

$NVIDIA Corp(NVDA)$ 

$Taiwan Semiconductor Manufacturing(TSM)$ 

Intel, Nvidia, Advanced Micro Devices and other chip names were contributing to the market’s downturn on Thursday.

Shares of Nvidia, one of the biggest artificial intelligence names on the Street, fell 3.9% after declining 1.1% the day before. ON Semiconductor’s stock was down 3.5%. Other chip companies like Intel and AMD fell 0.8% and 1.5%, respectively. All three stocks also fell on Wednesday.

Traders saw a slate of economic readings come in Thursday morning, none moving the needle substantially on rate-cut projections. All three major indexes were marking one-day losses.

Stocks closed lower Thursday after the latest inflation report came in hotter than expected.

The producer price index increased by 0.6% in February, double the consensus estimate of economists. And retail sales rose by 0.6% in February from the month prior, below expectations for a 0.7% increase.

The 10-year gains 0.106 percentage point, to 4.297%.

Former Treasury Secretary Steven Mnuchin said he is putting together an investor group to make a bid on TikTok.

After the bell, Adobe reports earnings.

Which Stock Will Benefit From AI Race?
The AI sector is undoubtedly one of the hottest sectors in the market, which pushed SaaS stocks and chip stocks to go higher. Microsoft surged to a fresh record high after the company announced the launch of its latest AI assistant, Microsoft Copilot for Security. Adobe becomes the victim of AI development and plunged 11% in the extended trading. ----------------- Which AI stock is your TOP pick? Is it a software company that develops AI? Or is it a chip company that provides computing power?
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