Chip Slide, Iran Sanctions Blur the Rally as US Markets Close Mixed

U.S. stocks closed mixed with the S&P 500 down about 0.3% and the Nasdaq roughly 0.8% lower as memory-chip names fell after reports Nvidia would raise AI server prices, while the Dow edged higher around 0.3%. The move came as officials unveiled expanded Iran sanctions aimed at isolating the country from the dollar system, with Canada–U.S. tariff tensions adding to volatility ahead of Nvidia’s upcoming earnings, which could influence the AI-chip narrative.