Stocks fall as tech weakness offsets broader market gains

U.S. stocks resumed their decline as investors pulled back from recent chip and artificial intelligence gains. The S&P 500 and Nasdaq turned lower after early strength, with technology shares leading the move down while more defensive sectors held up better. Market strategists said the selloff reflected growing caution after a strong run in parts of the tech trade, especially following disappointing guidance from Broadcom. Concerns about inflation also added to the shift in sentiment, even as many other S&P 500 stocks stayed in positive territory. Outside the U.S., European markets finished lower as falling oil prices pressured energy and mining shares. In the U.S. housing market, existing home sales in May rose more than expected, and the median price reached a new record, according to the National Association of Realtors.