Stocks fell Wednesday, snapping the market's October winning streak as artificial intelligence stocks pulled back.
Intel rose 0.6% after Elon Musk downplayed Intel rival Taiwan Semiconductor Manufacturing's role in his Terafab chip venture. TSMC stock dropped 2.1%.
Micron rose 4.1% to $1,088 even as the semiconductor industry faced a strike threat in Taiwan. D.A. Davidson analysts raised their price target for shares to $3,000 from $2,100.
SpaceX fell 2.5% after the Financial Times reported the rocket and AI company was aiming to raise $40 billion to buy Nvidia chips. Shares of Nvidia slipped 0.7%.
Caterpillar fell 5.8% and Deere dropped 3.8% after the Federal Trade Commission launched a probe into competition and business practices within the agricultural equipment and technology industries.
Webull tumbled 19% following a report that a congressional committee claimed the brokerage company's ties to China pose a risk. A Webull spokesperson said the report contains significant inaccuracies and that U.S. customer data are stored and controlled within the states.
Roblox rose 1.9%. Alphabet-owned Google and Unity Software launched an artificial-intelligence-powered game platform, Playground, that allows users to create games without prior coding experience. The new tool could lure users away from Roblox, enticing both young and older amateur gamers.
Neogen fell 2.3%. The food-safety company raised its fiscal 2027 guidance and now expects revenue to range from $885 million to $890 million, up from a prior outlook of $880 million to $885 million.
Constellation Brands rose 2.4% after the brewer beat analysts' second-quarter earnings target. The company also revealed weak underlying demand for two of its flagship brands -- Modelo Especial and Corona Extra.
Fair Isaac dropped 2% after the credit-score provider said it would cut 15% of its staff and integrate "AI-driven product development."
Hewlett Packard Enterprises rose 2.3% after the company announced a new line of enterprise servers powered by the latest processors from Advanced Micro Devices. AMD fell 0.6%.