New Delhi, July 7 -- Wall Street's technology-heavy Nasdaq and the benchmark S&P 500 traded lower on Tuesday as weakness in semiconductor stocks prompted investors to reassess the strength of the artificial intelligence-driven market rally.

The decline followed a broader sell-off across Asian equities, led by a sharp 4.9% fall in South Korea's benchmark index after chipmaker Samsung Electronics reported strong quarterly profits but failed to ease growing concerns about the long-term sustainability of the AI-fuelled boom.

At 09:58 a.m. ET, the Dow Jones Industrial Average rose 14.18 points, or 0.03%, to 53,070.09, the S&P 500 fell 25.30 points, or 0.34%, to 7,512.13, and the Nasdaq Composite lost 267.74 points, or 1.02%, to 25,853.42.

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