India, June 23 -- It was a tough day for Wall Street on Tuesday when a broad-based sale of semiconductor stocks saw U.S. stock indices fall sharply while in particular, the Nasdaq Composite suffered the sharpest falls during the day, declining by more than 2% to a low point, with the S&P 500 and Dow Jones struggling to remain above as a result of higher bond yields and a stronger dollar amid worries about stretched AI valuations.

U.S. Market Snapshot

Dow Jones Holds Steady Despite Tech Weakness

The Dow Jones Industrial Average proved surprisingly resilient and closed modestly higher, with gains in defensive bellwethers including Wal-Mart, Proctor & Gamble and Merck compensating for losses in industrials including Caterpillar and Intel....