The rotation dampened Wall Street’s decline

Wall Street’s stock indexes hovered near zero on Friday as investors continued to rotate away from some of the biggest tech winners of recent months.

Chip shares were under pressure again. The sale was accelerated by concerns about the valuations of artificial intelligence-related stocks and the sustainability of large infrastructure investments by technology giants.

The S&P 500, which broadly tracks large companies, fell 0.1 percent. The technology-focused Nasdaq weakened by 0.2 percent. The flagship Dow Jones index fell 0.1 percent.

The Philadelphia semiconductor index, which tracks semiconductor companies, fell 5.3 percent. The memory chip company that gave a strong earnings report this week Micron Technologyn the value of the share fell by 6.7 percent.

Chip stocks were weighed down by a New York Times report, according to which OpenAI is considering postponing its listing until next year. According to the report, they are in the background SpaceX,’s weak post-IPO development and wide fluctuations in artificial intelligence-related stocks.

The rotation of investors was also visible at the sector level. The S&P 500 information technology sector fell 1 percent, while the healthcare sector rose 3 percent. Daily goods, financial companies and utility companies also rose.

About healthcare companies Eli Lilly rose seven percent, and Johnson & Johnson almost four percent.

On Wall Street, the mood was supported by better-than-expected consumer confidence figures and an improved inflation outlook. At the same time, the head of the Minneapolis Fed Neel Kashkari said he expected one rate hike this year due to rising inflation related to the Middle East conflict.

Oil prices fell on Friday. According to Bloomberg, US WTI crude fell 3.8 percent to $69.16 a barrel. The price of oil continued to fall, even though the president Donald Trump said Iran had violated the cease-fire agreement with the United States.

Network equipment manufacturer on the New York Stock Exchange Nokian depository receipt, or ADR, fell 7.0 percent to $13.00.