Wall Street Closes Lower as Chip Weakness Persists Despite Solid Economic Data

U.S. equities ended lower, primarily due to a selloff in semiconductor stocks driven by global AI jitters. This occurred despite the release of solid core retail sales data, a decline in jobless claims, and surging manufacturing activity in the Northeast. However, less positive housing data, including a larger-than-expected drop in pending home sales and deteriorating homebuilder sentiment, also weighed on markets.