Nasdaq Eases from Record High

US stocks wavered on Wednesday as the tech rally paused and lingering macroeconomic risks prevailed. The Nasdaq 100 eased from its record while the S&P 500 and the Dow inched below the flatline. Chip producers were lower as portion of the market took profits from their sharp rally this week, stemmed by fresh enthusiasm on the AI trade after positive feedback on the release of Meta's Muse agent. Broadcom, Micron, Intel, and Lam Research fell between 1% and 2%. Meanwhile, Treasury yields remained at elevated levels as energy prices halted their pullback. Credit-sensitive sectors were muted, with banks holding their sharp losses from yesterday. JPMorgan and Wells Fargo inched fell up to 1%. On the other hand, Chevron, ExxonMobil, Marathon, and Valero were higher amid reports that the energy sector lobbied against President Trump's plan to halt diesel exports to curb prices.